OverviewSuggest Edit

We believe that people who own luxury assets should be able to borrow against them or sell them with speed, privacy, and impeccable service.
For too many people, much-needed liquidity – required to seize opportunities or address unplanned events – is trapped in these lovely but illiquid luxury assets.
Banks don't provide these loans or purchases – unless you've got several million pounds on deposit. Nor do auction sites, galleries or antique dealers.
Borro does. We make loans and purchases swiftly and store your luxury assets in locations that are used by museums and auction houses.
We will arrange for the collection of your luxury assets or you can bring them yourself to one of our valuation centres for appraisal by one of our experts. They've all spent many years at places like Sotheby's, Christie's and Bonhams.
TypePrivate
Founded2008
HQNew York, US
Websiteborro.com
Employee Ratings2.8

Latest Updates

Employees (est.) (May 2020)27(+13%)
Revenue (FY, 2017)£16.7 M(+25%)

Key People/Management at Borro

Dewey Burke

Dewey Burke

Founder & CEO – Luxury Asset Capital
Sean Helmes

Sean Helmes

Product Manager
Shelley Berube

Shelley Berube

Executive Vice President – New York
Claire Barrington-Jones

Claire Barrington-Jones

VP of Client Services
Richard Shults

Richard Shults

Chief Underwriter & Sales Officer
Rebecca McDonnell

Rebecca McDonnell

Director – Sales & Business Intelligence
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Borro Office Locations

Borro has an office in New York
New York, US (HQ)
767 3rd Ave
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Borro Financials and Metrics

Summary Metrics

Founding Date

2008

Borro total Funding

$184.3 m

Borro latest funding size

$6.79 m

Time since last funding

3 years ago

Borro investors

Borro's latest funding round in January 2017 was reported to be $6.8 m. In total, Borro has raised $184.3 m
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Borro Revenue

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Borro's revenue was reported to be £16.70 m in FY, 2017 which is a 24.2% increase from the previous period.
GBP

Revenue (FY, 2017)

16.7m

Revenue growth (FY, 2016 - FY, 2017), %

24.2%

Gross profit (FY, 2017)

2.4m

Gross profit margin (FY, 2017), %

14.2%

Net income (FY, 2017)

(14.4m)

EBITDA (FY, 2017)

(6.5m)

EBIT (FY, 2017)

(6.6m)

Cash (31-Dec-2017)

5.4m
GBPFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

1.1m11.0m13.4m16.7m

Revenue growth, %

911%22%24%

Cost of goods sold

2.0m638.1k757.5k14.3m

Gross profit

(900.7k)10.4m12.7m2.4m
GBPFY, 2014FY, 2015FY, 2016FY, 2017

Cash

756.9k2.1m2.0m5.4m

Accounts Receivable

12.8k32.9m51.5m

Inventories

16.0k15.5k9.4k

Current Assets

1.1m35.8m54.6m32.9m
GBPFY, 2014FY, 2015FY, 2016FY, 2017

Net Income

(4.1m)(5.0m)(3.4m)(14.4m)

Cash From Operating Activities

(8.5m)(15.9m)24.4m

Cash From Financing Activities

13.0m22.8m(14.4m)

Net Change in Cash

644.4k960.7k3.5m
GBPY, 2017

Revenue/Employee

241.0k

Financial Leverage

-2.2 x
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Borro Online and Social Media Presence

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Borro News and Updates

Ameritech Financial to Student Loan Borrowers: Don't Fall for Emergency Scam Calls --Follow FTC Advice on How to Handle Them

ROHNERT PARK, Calif., Aug 16, 2018 /PRNewswire/ -- A woman is out shopping and receives a phone call. The caller claims to be her nephew, who is apparently in Cancun, Mexico, in jail. He says he needs bail immediately. The caller uses an urgent tone, emphasizing what an emergency he is...

American Financial Benefits Center: FTC's Consumer Protection Actions Can Help Student Loan Borrowers

EMERYVILLE, Calif., Aug. 16, 2018 /PRNewswire/ -- American Financial Benefits Center (AFBC), a document preparation company, applauds the Federal Trade Commission on its accomplishments in protecting consumers, promoting competition and maximizing resources. The company believes that...

Turkey Reverts Back to `Stealth' Tactics to Hike Borrowing Costs

Turkey Reverts Back to `Stealth' Tactics to Hike Borrowing Costs

Turkey Reverts Back to ‘Stealth’ Tactics to Hike Borrowing Costs

Turkey Reverts Back to `Stealth' Tactics to Hike Borrowing Costs

Ameritech Financial Cautions Student Loan Borrowers Struggling With Repayment to Be Wary of Get-Rich-Quick Schemes: Heed FTC Warnings

ROHNERT PARK, Calif., Aug. 15, 2018 /PRNewswire/ -- The rise of Amazon's Marketplace has made it easier to make supplemental income with relatively little time invested. How much money can be made selling products on Amazon? According to the Sellers Playbook, a series of workshops that...
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Borro Blogs

Video – About Us

 We saw an opportunity in the marketplace with a business that was already existing, borrowing money against your luxury assets and taking it both upmarket and online, making it easier, sort of Amazoning this industry, allowing for clients to ship their assets to us, deal with us exclusively online…

Video – Meet The Team

The Borro team brings together decades of thought leadership and success from the disciplines of collateral lending and luxury assets.

Video – Assets We Accept

Are you wondering if the asset you have is one that we accept? We gladly accept assets that have a resale value of over $250. Assets accepted include watches, diamonds, jewelry, designer handbags and accessories, luxury cars, gold and precious metals, musical instruments, electronics, and planes. We…

Video – Security

Your Assets are Secure and Fully Insured with Borro! A Trusted Steward. Over 15,000 clients have trusted Borro to safely store and return their luxury assets. Licensed & Regulated. Borro is licensed and regulated by the laws of Colorado and New York. Ultra-Secure Asset Storage. Borro uses advanc…

Borro Benchmarks – The Collectability of the Rolex Daytona

It was inevitable that this model, the most talked about piece in Rolex’s collection, should eventually rear its asymmetrical head (more about that in a moment) in the Borro Benchmarks series, but what’s really left to say about the one, the only, Rolex Daytona – and as an added touch, we’ll be focu…

Borro Benchmarks: The Rolex Sea-Dweller and Deep Sea Models

It has now been more than half a century since Rolex launched their underwater exploration tool, the Rolex Sea-Dweller. Water-resistant to a world-leading 2,000ft (600m), the watch established new levels of “waterproofness” for the watch industry. It was fitting that such a development came from the…
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Borro Frequently Asked Questions

  • When was Borro founded?

    Borro was founded in 2008.

  • Who are Borro key executives?

    Borro's key executives are Dewey Burke, Sean Helmes and Shelley Berube.

  • How many employees does Borro have?

    Borro has 27 employees.

  • What is Borro revenue?

    Latest Borro annual revenue is £16.7 m.

  • What is Borro revenue per employee?

    Latest Borro revenue per employee is £618.4 k.

  • Who are Borro competitors?

    Competitors of Borro include HMN Financial, First of Long Island and Nimble.

  • Where is Borro headquarters?

    Borro headquarters is located at 767 3rd Ave, New York.

  • Where are Borro offices?

    Borro has an office in New York.

  • How many offices does Borro have?

    Borro has 1 office.