Borro, a London, UK-based online platform for luxury asset-backed lending, raised $19.5m in funding.
The round, which brought total capital raised to over $200m, was led by OurCrowd and Rocket Internet (RKET) with participation from existing investors Canaan Partners, Eden Ventures, and Augmentum Capital.
The company intends to use the funds to continue to grow across the US and the UK.
Led by Paul Aitken, founder and CEO, Borro offers loans from $5,000 – $2,000,000 secured against luxury assets including fine art, antiques, jewelry, luxury watches, fine wine, prestige and classic cars and other high value assets as collateral. Launched in the UK in 2009 and the U.S. in 2012 (with offices in New York and Los Angeles), the company has extended close to $200 million in luxury asset-backed loans since its inception.
In 2014, Borro raised $112m of debt from Victory Park Capital (read here).
FinSMEs
10/02/2015