OurCrowd, the leading equity crowdfunding platform for accredited investors, announced that it lead a $16M Series E funding round for Borro, the UK-NY based, asset-backed online lender. OurCrowd was joined by Rocket Internet AG (RKET), Canaan Partners and Augmentum Capital in this funding round. OurCrowd alone raised $6M of the capital invested, making this the single largest equity crowdfunding round ever completed and demonstrates how equity crowdfunding can complement and even lead traditional funding sources, such as venture capital.

OurCrowd Founder and CEO, Jon Medved, commented, “In under two years, OurCrowd went from participating in early seed rounds to now successfully leading a $16M dollar major funding round together with Tier 1 VCs such as Canaan and the renowned internet company, Rocket. We are delighted to be investing in quality companies like Borro, which is redefining the Fintech industry.”

Launched in the UK in 2009 and in the US in 2012, Borro has defined a new category of online personal asset-based lending. Borro focuses on providing liquidity to individuals, entrepreneurs, and business owners who use luxury personal assets such as watches, jewelry, supercars, fine art, antiques and high-end handbags as collateral for short term loans.

Paul Aitken, CEO and Founder of Borro, said: “We are delighted with our collaboration with OurCrowd. Their ability to lead this important funding round has proven that equity crowdfunding has indeed come of age. I was excited by the quality of the investors they have brought to the table and am looking forward to their adding additional value to Borro as we move forward.”

Borro was recently ranked #8 right behind Lending Club #6 and OnDeck #7 in KPMG’s 50 Best Fintech Innovators Report. OurCrowd ranked #22 on the list. Borro is backed by a consortium of high caliber VC investors with significant expertise in online finance.