Octopus provides £20m loan facility to borro

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.

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