Firm restructures investment to strengthen existing business

CHICAGO and LONDON – November 16, 2017 – Victory Park Capital (VPC), an investment firm focused on private middle market debt and equity investments, announced today that it has taken a majority stake in Borro Ltd., a leading consumer lender that offers loans secured by luxury assets. VPC originally provided Borro with a credit facility in Feb. 2014 to support its growing loan portfolio and will now expand its involvement to also include working capital financing along with strategic and operational support.

As part of the transaction, Tom Welch and Gordon Watson, partners at VPC, have joined Borro’s board of directors.

“We’re very excited to expand our relationship with Borro by partnering with its new management team to help the company refocus on its core business, where we see a lot of opportunity,” said Welch. “Having been involved with the business since early 2014, we are uniquely positioned to capitalize on this opportunistic investment.”

“Victory Park Capital is the ideal partner for the next phase of Borro’s development, based on the firm’s expertise and the team’s knowledge of our operations,” said John Allbrook, CEO of Borro. “Despite several business and leadership shifts over the past two years, we feel confident that with VPC’s partnership, we can capitalize on what remains a fragmented and niche market that continues to be underserved.”

The transaction, which required change of control approval from the Financial Conduct Authority (FCA), closed on November 15.