Augmentum Capital has invested in online pawnbroking service Borro.com alongside existing investors Eden Ventures and Rockbridge Investments.
Launched in 2008, the UK company offers agreed short-term loans against collateral to anyone with appropriate goods. A statement by the company claims that it offers twice as much for valuables as they would receive on the high street.
Goods are valued by a team of experts who have worked at auctioneers such as Sotheby's.
“With banks still reluctant to lend, attitudes toward borrowing changing and the ever increasing financial restrictions facing people and businesses in the UK, alternative loans companies like Borro provide a much needed short-term solution,” said Paul Aitken, founder and chief executive of the company.