Borro  /   www.borro.com

Plugging the short-term credit gap

Borro is revolutionising the face of lending through personal asset loans. Having positioned itself as the alternative to bank overdrafts and cash from credit card accounts, Borro allows private individuals, small business owners, entrepreneurs and others to raise finance quickly, easily and conveniently. Borro’s typical loan is between £5,000 and £100,000 although the company can offer loans of up to £1 million. Loans are typically secured against luxury assets including fine art, antiques, prestige cars, watches, diamond jewellery, gold, yachts, fine wine and other high value assets.

Borro was founded by CEO Paul Aitken in 2008 and launched in the US in 2012. The company employs over 60 people in offices in London and New York. The board includes Nigel Morris (co-founder Capital One) as Chairman and Paul Grattan (ex-CEO Egg, First Direct). Eden participated in Borro’s seed financing in 2008 and remains the company’s largest institutional investor. The company has since raised further equity investment from Augmentum Capital (Rothschild), Canaan Partners and Ribbit Capital and debt from Kreos, Silicon Valley Bank and Octopus. Borro announced a $112 million debt facility from Victory Park Capital in early 2014.

  

Eden Partner:  Ben Tompkins

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