Borro has lent over $1 million to individuals and small business owners in need of short-term financing in the US since its launch less than two month ago.

It lent against high value personal assets including $140,000 against a Rolls Royce, $100,000 on a piece of fine art, $96,000 against a luxury watch collection, and $58,000 against two 1kg investment gold bars.

Borro’s CEO Paul Aitken said: “Naturally