Leading business and finance website, The Wall Street Journal, featured OurCrowd’s portfolio company Borro, a leading online asset-backed lending platform. Borro delivers liquidity to people with unprecedented speed and ease.
Borro, a “luxury-asset-based lender”—like a high-end pawnbroker—entered the U.S. market three years ago making short-term “bridge” loans. For example, someone might finance a child’s private-school tuition by borrowing against an antique car until an expected annual bonus comes through. Loans so far have ranged from about $5,000 to $4 million in size.
The London-based company this month began offering loans in the U.S. with terms from 18 months to three years, for up to $10 million, for high-net-worth borrowers who want to extract cash from their possessions to invest in other opportunities. The minimum loan is $100,000.
Read more on the WSJ here.