borro.com, a London and Oxford, UK-based online pawnbroking service, has received a venture capital financing of undisclosed amount.
The round was led by Augmentum Capital, the entrepreneurial technology and internet fund launched by Tim Levene and Richard Matthews in 2010, with participation from existing investors Eden Ventures and Rockridge Investments.
The company intends to use the funds for new customer acquisition.
Founded in 2008 by CEO Paul Aitken, borro offers short term loans of £100 to £1,000,000 against assets of value including Jewellery, Luxury Watches, Fine Art, Antiques, Sculptures, Luxury Cars, Light Aircraft and other high value items.
London-based Augmentum Capital has already invested in BullionVault, an online physical gold investment platform and SRL Global, a technology partner to pension funds, insurance companies, endowments and large family offices.