Raylo raises £10m in debt finance led by Avellinia Capital to fuel growth
The debt facility was led by Avellinia Capital with backing from Clerville Investment Management.
£10.0MDebt
Raylo operates a subscription payment platform that provides flexible monthly financing for consumer electronics and other durable goods.
Raylo has secured £10m in debt finance to support its ongoing growth and subscriber expansion. The financing round was led by Avellinia Capital alongside participation from Clerville Investment Management.
The capital will enable the firm to scale its operations and build upon its growing certified refurbished device category. Raylo uses an open banking platform rather than traditional credit checks to assess affordability, broadening access to quality handsets.
From the founder
"We believe the days of one-trip ownership are coming to an end. Under Raylo’s circular model, devices will be used by a minimum of two people over a lifespan of six to seven years."
KG
Karl Gilbert
CEO at Raylo
Use of funds
- 01Scale operations
