Borro, a UK-based personal asset lender, has just surpassed the £70 million mark for loans issued since launching.
Borro has lent against numerous high value assets of late, including a collection of Warhol canvases that achieved a loan value of £380,000, and achieved a loan value of £350,000 with loan for a Bugatti.
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Almost half of Borro’s customers are repeat customers with average loan values 24% higher compared to their first loans.
Paul Aitken, CEO and founder of Borro, said: "Brits have very interesting and valuable personal assets sitting in their homes, or in storage. We have seen some remarkable pieces of art, designer handbags, cars and jewelry come through our vault doors from the wealthy in both the UK and stateside. We’ve even lent against a plane! Our customers are asset rich, cash poor; sitting on a goldmine of antiques, art and fast cars but in need of quick liquidity."
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