Borro founder and CEO Paul Aitken is leaving the business.
Since launching in 2008 Borro has established itself in both the UK and US with lending figures topping £260m over the last three years.
Non-exec chairman John Allbrook will now be taking over and running the firm. Allbrook was previously with GE Capital and GoIndustry.
Aitken said: “Obviously this was a very tough decision for me but the time is right. Borro started at a time when there was no one doing this kind of lending and growing the business from a start up to the company it is today has been a terrific experience. The business has matured a lot over the years and John is the right person to lead it onto the next stage of its development.”
Allbrook added: “Paul has been an inspirational and visionary leader of Borro. It has been a pleasure working with him and everyone here wishes him well. He leaves the company well positioned for the future, which I am confident will be a bright one.”