What is Borro?
Borro operates as a distinctive financial service provider, offering an alternative to traditional lending channels and asset sales for individuals possessing luxury assets. The company specializes in facilitating confidential loans, leveraging assets such as high-end vehicles, fine art, jewelry, and other luxury goods as collateral. This model provides a swift and discreet method for borrowers to access capital, ranging from thousands to millions of dollars, often within a single business day, thereby addressing the liquidity challenges associated with high-value, non-traditional assets.
How much funding has Borro raised?
Borro has raised a total of $204.3M across 7 funding rounds:
Series A
$2.5M
Series B
$12.1M
Series C
$26M
Series D
$112M
Series E
$19.5M
Other Financing Round
$25.4M
Private Equity
$6.8M
Series A (2008): $2.5M with participation from Eden Ventures and Global Founders Capital
Series B (2011): $12.1M led by Eden Ventures, Rockridge Investment Partners, and Augmentum Fintech
Series C (2012): $26M supported by Eden Ventures, RockBridge Capital Partners, Augmentum Fintech, Canaan, and Ribbit Capital
Series D (2014): $112M featuring Victory Park Capital
Series E (2015): $19.5M backed by Rocket Internet, Augmentum Fintech, Eden Ventures, Canaan, and OurCrowd
Other Financing Round (2016): $25.4M with participation from OurCrowd and Rocket Internet
Private Equity (2017): $6.8M, investors not publicly disclosed
Key Investors in Borro
Eden Ventures
Eden Ventures is a venture capital firm that invests in technology companies across various sectors, including enterprise software and digital media, with a strong background in supporting early-stage ventures.
Augmentum Fintech
Augmentum Fintech is the UK's leading listed investment company focused on disruptive fintech businesses, providing patient capital and operational support to companies in the financial technology sector.
Canaan
Canaan is an early-stage venture capital firm that backs technology and healthcare companies from seed through growth stages, with a focus on enterprise software, fintech, and digital health.
What's next for Borro?
The substantial enterprise-level funding and recent strategic investment indicate Borro is likely in a growth or scaling phase, aiming to expand its service offerings, geographic reach, or technological capabilities. The consistent backing from a diverse set of investors, including venture capital firms and strategic corporate entities, suggests confidence in Borro's business model and its ability to navigate the niche market of luxury asset-backed financing. Future developments may involve enhancing its digital platform, forging new partnerships, or broadening its collateral acceptance criteria to capture a larger market share.
See full Borro company page
