Chicago-Based College Lender Boro Raises $12 Million

Financing

Chicago-Based College Lender Boro Raises $12 Million

Mar 23, 2020

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.

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