Canaan Backs Borro With $26 Million to Make Personal Loans Online

Borro, which lends money to individuals over the Internet, has raised $26 million in new funding. The round was led by Canaan Partners, with Ribbit Capital, Augmentum Capital, Eden Ventures and Rockridge also participating. The New York-based company, which launched in the U.K. in 2008 and in the U.S. this year, offers up to $1 million in loans, which are secured by assets such as jewelry, cars or fine wine. Borro has made 15,000 loans to date, at an average value of $10,000.


Latest Video

View all videos »

Search »

I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik