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 provides device subscription infrastructure for electronics brands, combining credit underwriting, financing and lifecycle management. It enables major manufacturers to offer flexible subscription models to consumers and businesses.
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 and Co-Founder 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 Ventures
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About the company
Raylo
Raylo provides subscription infrastructure for leading electronics brands.