Paul Aitken, chief executive officer of Borro, said: “First and foremost this new relationship reinforces our ability and desire to fund new business in the short and medium term. We have already invested heavily in our capacity to attract and service new business thanks to our recent equity injection from Augmentum Capital.
“Our new facility with Octopus will now enable us to scale up our operation to meet the demand for our unique proposition. This is an exciting time for Borro and demonstrates more than ever our commitment to establish a new form of asset lending in the UK.”
Hugh Costello, investment manager at Octopus, added: “We were impressed by Borro’s business model and its rigorous processes that have been intelligently devised and are diligently executed. borro provides an innovative financing solution for customers who are asset rich and in need of short term finance.”
