Paul Aitken, chief executive of the short-term lender, said: “An initial public offering is a realistic exit for a business like borro and it’s something we’d consider looking at in two to three years.
“But we are certainly not looking at doing this within the next two years.”
The Times reported that business was so good borro was considering an IPO.
The lender was founded by Aitken in 2008 and at the end of 2011 had grown to 45 staff. In three years it has secured growth funding from Octopus Investments (also backers of Dragonfly), Augmentum Capital, Kreos Capital (backers of Lovefilm), European Founders Fund (which also backs Facebook and Linked-In) and Eden Ventures.
In 2010 borro lent six times the amount it lent in 2009 and between August and October 2011 it saw a 500% increase in high value loans generated from intermediaries including IFAs, mortgage brokers, accountants, solicitors, wealth managers and tax advisers.
The firm now has over 1,800 intermediaries signed up to their introducer programme - an increase of 200% in the same three months.
