Borro, a UK-based online short-term asset lender, has received a debt financing of undiscolsed amount from Octopus Investments.
The proceeds, provided by Octopus’ Specialist Finance team, will fund Borro’s loan book to allow the company to service its customer base.
Led by CEO Paul Aitken, Borro provides short-term loans of between £100 and £1m, which are secured on assets such as watches, jewellery, antiques and artwork, valued by an expert valuations team based in London.
The company’s equity backers include Eden Ventures and Augmentum Capital.
29/03/2010: Borro.com Raises £10M
31/03/2011: borro.com Receives Venture Capital Financing