Daily News: February 11, 2015

Borro Banks $19MM for Online Pawn Shop

The Wall Street Journal reported Borro Ltd., an online pawnshop featuring fine wine, art, antiques and other luxury goods, originated $75 million in loans last year to cash-poor, asset-rich individuals. That amount, which generated $20 million in revenue, was up 80% from the previous year, the Journal reported.

The startup’s growth captured the attention of private investors who plowed $19.5 million into Borro to bankroll its continued expansion, the Journal said.

To read the entire WSJ article, click here.