Borro

Borro became a subsidiary of the privately held finance company Luxury Asset Capital in February, 2020 upon its acquisition from Victory Park Capital. Borro was first funded by European Founders and partners Eden Ventures. In 2011 the asset lender received two sets of funding.

In March 2014 Borro Private Finance raised $112,000,000 from Victory Park Capital. In February 2015, Borro Private Finance raised an additional $19,500,000 in funding. This round pushed Borro Private Finance's total capital raised to over $200,000,000.

In November 2017, Victory Park Capital took a majority stake in Borro Private Finance, expanding its involvement to also include working capital financing along with strategic and operational support.

Borro became Borro Private Finance in July 2018 and its name reverted to simply Borro upon its acquisition by Luxury Asset Capital in February, 2020.

Borro Private Finance was lauded as the UK's first ever online luxury asset lender. Soon after launch the company's advertising campaign commenced on television, aimed at the daytime audience and those seeking to take "discreet" loans online. Credit Today named Borro Private Finance Alternative Lender of the Year in 2011 and 2012.

The success of Borro Private Finance and the other newly established online loan companies can be aligned to the worldwide economic decline of 2008–2010.

In its initial four months Borro Private Finance doubled its loan book every month, as a surge in business owners, developers, and City financiers attempted to secure loans on their luxury items gained in more wealthy times. By June 2011 it was reported in The Times that Borro Private Finance conducted its first £1,000,000 loan.

On 4 July 2017 John Allbrook became CEO of Borro Private Finance, replacing Paul Aitken who stepped down from the role. Its current chief executive is Dewey Burke, the Founder and CEO of parent company Luxury Asset Capital.