Raylo raises £6.5m to scale its subscription payment platform
The funding round was backed by Wayra UK, Octopus Ventures, and Macquarie to support the rollout of Raylo Pay.
Raylo operates a subscription payment platform that provides flexible monthly financing for consumer electronics and other durable goods.
Raylo has secured £6.5m in fresh capital to scale its subscription payment service and expand its engineering and data operations. The financing round included strategic backing from Wayra UK alongside participation from existing supporters Octopus Ventures and Macquarie.
The company plans to deploy the proceeds to accelerate the rollout of Raylo Pay to retailers across the UK market. The platform allows merchants to offer low monthly subscription options at checkout while receiving full upfront payment with zero fees, underpinning a circular model that prioritises device refurbishment and reuse.
From the founder
"We are delighted that Telefónica shares our vision of bringing our Raylo Pay solution to retailers across the UK and beyond. Subscriptions are a fundamentally better way to sell any durable product with a regular upgrade cycle – retailers enjoy a significant conversion uplift, consumers pay a fraction of the cost each month, and we avoid the wastefulness that has been encouraged under other payment models."
Karl Gilbert
CEO at Raylo
Investor perspective
"There is a clear shift in consumer behaviour and their preference for subscription based payment models. There’s an appetite for more affordable options to purchase great technology and devices. The Raylo team has proven success in delivering on this consumer trend, and we look forward to helping them scale up their platform through our strategic resources and networks."
Bruno Moraes
Managing Director, Wayra UK
Use of funds
- 01Grow the team
- 02Expand into international markets
