Since launching in 2008 Borro has established itself in both the UK and US with lending figures topping £260m over the last three years.
Borro founder and CEO Paul Aitken is leaving the business.
Since launching in 2008 Borro has established itself in both the UK and US with lending figures topping £260m over the last three years.
Non-exec chairmanJohn Allbrook will now be taking over and running the firm. Allbrook was previously with GE Capital and GoIndustry.
Aitken said: "Obviously this was a very tough decision for me but the time is right. Borro started at a time when there was no one doing this kind of lending and growing the business from a start up to the company it is today has been a terrific experience. The business has matured a lot over the years and John is the right person to lead it onto the next stage of its development."
Allbrook added: "Paul has been an inspirational and visionary leader of Borro. It has been a pleasure working with him and everyone here wishes him well. He leaves the company well positioned for the future, which I am confident will be a bright one."
