Octopus provides £20m loan facility to borro
Octopus Investments has provided British personal asset lender borro with a £20m loan facility.
The loan was arranged through Octopus's specialist finance team, which provides between £1-100m in alternative financing solutions.
In 2011, Octopus had already financed borro's loan book. This month, borro secured $26m in an expansion round led by US venture capitalist Canaan Partners. Other investors include Ribbit Capital, Augmentum Capital, Eden Ventures and Rockridge.
Oxford-based borro is a personal lending business that operates through an online platform. It provides loans of £1,000-1m secured by personal luxury assets, such as jewellery. The company was launched by Paul Aitken in 2008, opening its US business in 2012.
Hugh Costello led the specialist finance team at Octopus.
More on UK / Ireland
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater