Boro, a Chicago-based provider of financial education and loan services to college students, has raised $12 million in a Series A round led by LexinFintech, a publicly traded Chinese financial company.
Found in 2015, Boro offers an app for college students that allows them to apply for loans offered by the company. (It secured a $100 million credit line from Arcadia Funds in 2018.) It also offers financial advice concerning budgeting and loans. In a statement, the company claims that its services are available in more than 200 colleges and universities across 31 states.
