Raylo, a London, and Belfast, Nothern Ireland, UK-based tech platform that promotes the reuse of consumer goods, raised an additional GBP5.2M in funding.
The round was led by Macquarie and Channel 4 Ventures.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Karl Gilbert, Rayo provides a technology platform that enables lease-and-reuse of consumer goods, which makes them more sustainable, accessible and affordable. Key components of its solution include:
- Raylo Pay, which makes it easy for retailers and manufactures to add leasing as a payment method.
- Raylo Protect, which provides Insurance, warranty and repair services that extend device lifespan and reduce e-waste.
- Raylo Trade-in platform, which ensures items get a new lease of life.
- Raylo Re-commerce, which finds the best channels, both locally and globally, to re-sell and re-lease returned devices, ensuring they’re always in use and their value is maximised.
The company has over 80,000 customer subscriptions and boasts £22m in annualised recurring revenue.
FInSMEs
12/09/2023