Online Pawnbroker Borro.com Expands With GBP10 Million Investment
By Borro.com, PRNESaturday, March 27, 2010
LONDON, March 29, 2010 - Online pawnbroker Borro.com has secured GBP10 million of funding, it was
announced today (29 March, 2010) to meet booming customer demand.
Provided by Eden Ventures, European Founders, Kreos Capital and
Rockridge, the funding will underpins the success of the business to date and
allow for aggressive expansion of this revolutionary approach to pawnbroking.
Announcing the funding deal, Founder and CEO Paul Aitken said:
'This investment is a major step forward for Borro.com, recognising its
potential as a major player in the financial services industry both in the UK
and abroad where we will roll out our service.'
Borro.com, the world's first online pawnbroker was launched in August
2008. It grew by an impressive 2100% in 2009 alone, which is equivalent in
value terms to the loan book growth in 2009 of the leading high street pawn
chain Albemarle and Bond
This funding deal is announced in the same week Sportingbet founder Mark
Blandford joined Borro.com as a board member. Blandford, one of the first to
see the potential of taking gambling off the high street and into the online
world launched the hugely successful Sportingbet in 1998. He believes that
Borro.com has 'everything it takes to become equally successful'.
Borro.com provides short term loans against jewellery, watches, art and
antiques via an online and courier service and an appointment centre in
Chancery Lane.. Proven to offer customers on average twice as much for their
valuables as they would receive on the high street Borro.com has smaller
over-heads allowing it to offer lower interest rates and higher loan values.
Uniquely, goods are valued by a team of Borro.com experts who have all worked
for leading auctioneers and salesrooms including Sotheby's, Bonhams and
Christies.
For further information: including, case studies, images and cost comparisons or to set up an interview, please contact the Borro.com press office on or +44(0)1865-882988 or +44(0)7553-344263
Tags: Borro.com, England, London, March 29