RAPAPORT... Pawngo announced a new luxury assets division to complement its trading in high-end goods such as diamonds, jewelry and luxury watches. Pawngo stated the new division will offer a more personalized experience to its online customers.
Kelle Graham, the director of Luxury Assets for Pawngo.com, said, ''With the introduction of Pawngo Luxury Assets Division, we hope to broaden ourselves to an even wider consumer base while offering a seamless and highly personalized level of service to our growing customer base.''
The company, founded by Todd Hills in Denver, Colorado one year ago, is a full-service online pawn store. The online endeavor was financed by Daylight Partners, Access Venture Partners and Lightbank. Pawngo has been funded for $8.8 million to date and reported averaging more than 1,600 applications per week during this first year in operation.
Hills said, ''Banks are no longer offering loans to people who don't necessarily have a perfect credit score. My hope is that Pawngo can be a source of relief for individuals in need of short-term financial help.''