Raylo raises £5.2m in cash and airtime led by Macquarie and Channel 4 Ventures
The investment round was led by Macquarie and Channel 4 Ventures to support the company platform.
Raylo operates a subscription payment platform that provides flexible monthly financing for consumer electronics and other durable goods.
Raylo has secured £5.2m in cash and airtime through its latest funding round, backed by Macquarie and Channel 4 Ventures. The capital will support the company as it continues to expand its circular economy platform for consumer electronics and prepares for a public crowdfunding campaign on Crowdcube.
The business has seen rapid growth, reporting over 80,000 customer subscriptions and an annualised recurring revenue of £22m. Alongside the institutional investment, the upcoming Crowdcube campaign will allow individuals to acquire a stake in the enterprise.
Channel 4 Ventures participated via its media for equity model, which provides television advertising space to scale consumer brands. Both backing institutions join Raylo in its ongoing efforts to mitigate global e-waste through sustainable product lifecycles.
From the founder
"Today, we celebrate a significant milestone in our mission to accelerate the move to a circular economy. With the support of Macquarie and Channel 4 Ventures, we’ve raised an additional £5 million, totaling £21 million in funding. Our remarkable journey includes over 80,000 customer subscriptions, 39x growth in the last three years, an annualised recurring revenue of £22 million, and B Corp certification. We invite you to join us as we prepare to launch our crowdfunding campaign on Crowdcube, opening doors for individuals to make a lasting impact on sustainability."
Karl Gilbert
CEO at Raylo
Investor perspective
"We are delighted to be supporting Raylo with its ambition to become a leading circular economy platform. The Raylo team has shown impressive traction in building a new consumer electronics proposition that is beneficial for both customers and the planet; and the launch of newer products, such as Raylo Pay and Raylo Insurance, demonstrate the company’s innovativeness and commitment to building a great customer experience. Our investment will enable Raylo to build awareness of its proposition throughout the UK and help it on its journey in becoming a household name."
Hannah Redgewell
Investment Principal, Channel 4
