Borro the online pawn broker who have disrupted the mainstream pawn broker market by carving out a niche now known as the “Personal Asset Lending” market, have secured a £20 million lending facility provided by Octopus Investments.
Launched in the UK in 2008 and in the US in January 2012. This latest funding line brings borro’s financing activities to £36 million in the last two weeks. borro recently announced a £16 million fundraising round from a venture capital consortium led by tech investment giant Canaan Partners, a global venture capital firm with over £2 billion under management.
borro has an average loan value of £6,000, borro focuses on providing liquidity from luxury personal assets such as watches, jewellery, high-end cars, fine art and antiques.