The company intends to use the proceeds to expand in the US and the UK.
Launched by Paul Aitken in the UK in 2008 and in the US in January 2012, borro offers loans of between £1,000 and £1,000,000 secured on assets ranging from watches, luxury cars and jewellery to antiques and artwork.
This latest funding line brings borro’s financing activities to $58 million in the last two weeks (see related news).
11/10/2012: Borro Raises $26M in Funding
14/06/ 2011: Borro Receives Debt Financing from Octopus
31/03/2011: borro.com Receives Venture Capital Financing
29/03/2010: Borro.com Raises £10M