Borro has secured a new £67 million lending facility through US alternative investment firm Victory Park Capital.

The investment will be used by the lender to meet UK and US customer demand for large scale personal asset loans.

Victory Park Capital is a privately held, registered investment adviser that has been dedicated to alternative investing since 2007.

Paul Aitken (pictured), chief executive and founder of Borro, said: “This new lending line represents the confidence the market has in our business, and in Victory Park Capital we have a very important partnership that provides a significant new lending capacity.

“It is another exciting step for Borro, and will allow us meet the increasing demand from clients for large scale loans in both the UK and the US.

“Ultimately it maximises our opportunity to become the leading global online liquidity marketplace for luxury personal assets.”

Brendan Carroll, partner at Victory Park Capital, added: “We are very excited about the opportunity to partner with Borro, especially at this point in the company’s lifecycle as it continues into new geographical markets.

“Paul has surrounded himself with an accomplished team and we look forward to helping Borro take its innovative business model to the next level.”