Boro provides affordable loans and financial education to college students and recent graduates who are underserved by traditional lenders. It offers microloans that cover expenses such as textbooks, class fees, groceries, and test prep materials. Boro uses a proprietary non‑FICO loan application process that allows students to obtain credit and build their credit histories, even without prior credit history or a Social Security number. Its financial products are available at over 200 colleges and universities in 31 states. The company plans to use new funding to expand to more colleges and universities in additional states and to further improve its financial technologies to increase U.S. market penetration. Financially, Boro raised $12M in Series A funding led by LexinFintech, and previously secured a $100M line of credit from Arcadia Funds in 2018 and a $2M angel round in 2017.

Total raised

$12M

Funding rounds

1

Latest round

Series A

Latest activity

Mar 2020