Online lending alternative case Online luxury pawn shop Borro refinancing 19 million 500 thousand
Abstract: Borro is an online pawn shop specializing in luxury pawn services designed to provide medium scale loans to individuals and businesses. In general, Borro provides customers with mortgages ranging from $20 thousand to $5 thousand.
PEHUB reported, specializing in luxury goods online pawn pawn business Borro in February 10th announced a new $19 million 500 thousand round of financing, by the Israeli public equity raised platform OurCrowd and the German Internet investment firm Rocket Internet lead investor. In the current round of financing, OurCrowd injected more than $6 million, and Rocket Internet raised its stake in Borro to 10%. Borro’s old shareholders, Canaan, Partners, Eden, Ventures and Augmentum Capital, are also involved in the current round of financing.
rapid development of the Internet financial industry, Borro is an alternative case of the field of Internet lending.
Borro is an online pawn shop specializing in luxury pawn operations designed to provide medium scale loans to individuals and businesses. In general, Borro provides customers with mortgages ranging from $20 thousand to $5 thousand. Users who are in urgent need of money apply for pawn applications through the Borro website, and then submit their collections of artwork, jewelry, watches, precious metals, luxury cars, wines and so on to Borro as collateral under the internet.
Borro was founded in England in 2009, and later established a company in New York and Losangeles. CEO is Paul Aitken.
Borro’s early investors included Canaan, Partners, Eden, Ventures, and Augmentum Capital.
last March, Borro received Victory Park Capital $112 million investment, used to raise the amount of loanable capital, the total capital of more than 200 million U.S. dollars. Capital One co-founder Nigel Morris as chairman of the board of directors of the company.
$19 million 500 thousand this round of financing is to support the company’s expansion of the core business of the UK and the United States, and strive to open up new markets, in the next few years will gradually increase the amount of loanable capital.
OurCrowd founder and CEO Jon Medved and Rocket Internet CEO Oliver Samw>