Borro has opened an office in New York.
The asset lender will provide loans of up to $1,000,000 to the New York and Tri-state area secured against high-value personal assets such as luxury watches, fine art, antiques, and luxury automobiles.
Borro lent $100,000 in the first 10 days of its US soft launch, predominately to this market, with an average loan amount of $10,000.
Paul Aitken, CEO of borro, said: “Our experience in the UK over the past three years proves the need and value of the borro model. Our UK business has grown four-fold each year