Borro Private Finance

lendingonline loans

FOUNDING YEAR: 2008
LOCATION: United States
Last Update: 17/07/2020

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About

Borro, a Luxury Asset Capital brand, is the leader in confidential, non-bank loans that use the borrowers luxury assets as collateral. We are a powerful alternative to selling luxury assets or traditional channels of financing that are often either too slow, invasive & burdensome, or, in some cases, unavailable. We unlock the equity in a wide range of luxury assets that are high in value but low in liquidity and execute transactions from thousands to millions of dollars in as little as one business day.

MEDICI Analysis

Borro is an online company providing loans secured with luxury assets such as fine art, antiques, jewelry, luxury watches & luxury handbags.

Focus

PRODUCTS & SERVICES

Provides loans backed by luxury assets such as fine art, antiques, jewelry, luxury watches & luxury handbags

REVENUE MODEL

Borro charges 15%-20% of asset's final sale price. It also charges a monthly interest rate of 2% to 5%.

MAIN CLIENTS

Retail Borrowers

EXISTING PARTNERSHIPS

Touch Financial Support

XPRO

LeadPoint

Paradigm Mortgage Services

Traction

TRANSACTIONS VALUE:

$75 M

People

FOUNDERS

Paul Aitken

Dewey Burke

BOARD MEMBERS AND ADVISORS

Nigel Morris

Paul Aitken

Dan Ciporin

Paul Gratton

Tim Levene

Ben Tompkins

NUMBER OF EMPLOYEES

51-200

INVESTORS:

Augmentum Capital

Canaan Partners

Eden Ventures

European Founders Fund

Global Founders Capital

LLC

OurCrowd

Ribbit Capital

RockBridge Capital Partners

Rocket Internet

The R-Group

Victory Park Capital

KEY EMPLOYEES:

Paul Aitken(CEO)

Momentum

FUNDED

YES

TOTAL FUNDING

$178.54 M

DATE OF LAST FUNDING

Jan 2017

FUNDING SERIES

SERIES A  · $2.5 M  · Oct 2008

SERIES B  · $12.11 M  · Apr 2011

SERIES C  · $26 M  · Oct 2012

SERIES D  · $112 M  · Mar 2014

SERIES E  · $19 M  · Feb 2015

OTHERS  · $6.94 M · Jan 2017

LISTED

NO

COMMENT

Conventional debt: $112 M(March 2014)

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