Octopus gives short term lender 'significant' boost

Octopus gives short term lender 'significant' boost


borro, the short term asset lender, which recently won the ‘Alternative Lender of the Year’ award at the 2011 Credit Today  Awards, has announced an important new partnership with Octopus Investments (‘Octopus’), which will provide borro with significant new lending capacity.

Octopus is a leading investment specialist whose funding solutions cover the entire capital structure, from equity through mezzanine to senior debt. Octopus has won a number of awards for its products and customer service. 

According to Paul Aitken, CEO of borro, the new funding line is an expression of the confidence that the market has in borro’s business. He said “First and foremost this new relationship reinforces our ability and desire to fund new business in the short and medium term. We have already invested heavily in our capacity to attract and service new business thanks to our recent equity injection from Augmentum Capital. Our new facility with Octopus will now enable us to scale up our operation to meet the demand for our unique proposition. This is an exciting time for borro and demonstrates more than ever our commitment to establish a new form of asset lending in the UK.”

Hugh Costello, Investment Manager at Octopus, commented: “We were impressed by borro’s business model and its rigorous processes that have been intelligently devised and are diligently executed. borro provides an innovative financing solution for customers who are asset rich and in need of short term finance.”

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