Toborrow to get SEK 10 million from Marginalen Bank

Toborrow, a Stockholm, Sweden-based company managing a marketplace that aggregates consumer savings, completed a SEK 10 million ($1M) capital raise.

The money was provided by existing investor, Marginalen Bank, which will control 90% of the shares post transaction.

Toborrow, founded in 2013 by Andreas Thorstensson, Lyndon Dodd and Sofie Lundström, started as marketplace providing access to peer to peer loans for companies. In time, the product has developed into an online marketplace that aggregates consumer savings, connecting it to small and medium sized businesses in need of financing.