• Raylo has successfully raised £5.2 million in cash and airtime in its latest funding round, with Macquarie and Channel 4 Ventures leading the investment.

• Community-centric crowdfunding opportunity: as part of its commitment to community involvement, Raylo will launch a crowdfunding campaign on Crowdcube, giving individuals the chance to own a stake in the business.

• Addressing the e-waste crisis: Raylo aims to combat the alarming e-waste crisis, with 50 million tonnes generated globally last year, equivalent to discarding 1,000 laptops into landfills every second.

• Innovative circular economy solutions: Raylo’s mission is to accelerate the move to a circular economy. Their technology platform enables lease-and-reuse of consumer goods, which makes them more sustainable, accessible and affordable.

• Impressive credentials: Raylo boasts over 80,000 customer subscriptions, 39x growth in customer subscriptions in the last three years, £22 million in annualised recurring revenue, and is a Certified B Corporation.

Raylo, the UK-based tech platform on a mission to accelerate the move to a circular economy, announces a significant funding milestone. The company has successfully raised £5.2 million in cash and airtime in its latest funding round, led by Macquarie and Channel 4 Ventures.

As part of its commitment to building a community-driven future, Raylo is set to empower its community by launching a crowdfunding campaign on Crowdcube, allowing individuals to own a part of the business. Interest registration for potential investors will open on September 12th 2023.

Hannah Redgewell, Investment Principal at Channel 4 Ventures said:

“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.”

Karl Gilbert, co-founder and CEO of Raylo added:

“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.”

Raylo’s ambition is to confront one of the most pressing challenges of our time: the staggering growth of e-waste. Last year alone, the world generated a staggering 50 million tonnes of electronic waste, equivalent to discarding 1,000 laptops into landfills every second.^[1] This e-waste crisis is compounded by the presence of over 5 billion inactive used mobile phones globally. Shockingly, only 20% of global e-waste is recycled annually.^[2] Raylo aims to transform the status quo and drive the transition from a linear to a circular economy, championing sustainability, and reducing electronic waste.

Raylo’s innovative approach centres on a technology platform that partners with retailers, manufacturers, and mobile networks, enabling them to adopt circular economy practices.

Key components of Raylo’s solution include:

• Raylo Pay: Raylo make it easy for retailers and manufactures to add leasing as a payment method. Their customers enjoy savings, and every lease ensures devices are refurbished, reused, and recycled.
• Raylo Protect: Insurance, warranty and repair services extend device lifespan and reduce e-waste.
• Raylo Trade-in: Instead of letting old devices sit unused, Raylo’s trade-in platform ensures they get a new lease of life.
• Raylo Re-commerce: Raylo 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.

Raylo’s impressive credentials underscore its impact in the industry, including:

• Over 80,000 customer subscriptions.
• A remarkable 39x growth in customer subscriptions in the last three years.
• An annualised recurring revenue of £22 million.
• A Net Promoter Score (NPS) of 67.
• A Trustpilot rating of 4.5.
• £21 million in equity investment raised to date.
• Certified as a B Corporation, reflecting its commitment to environmental and social responsibility.

Consumers have embraced Raylo for offering low monthly prices, great flexibility and approval rates. Meanwhile, retailers appreciate Raylo’s seamless integration, zero merchant fees, increased revenue, zero risk, and no upfront payments.

Raylo’s technological prowess is evident through its innovative AI-powered Xylo risk model, which employs over 3,000 factors and alternative data sources, including open banking, designed to deliver the highest approval rates. Additionally, Raylo’s residual value pricing engine provides real-time pricing information for thousands of SKUs, ensuring that customers receive fair value for their devices.

Raylo’s embedded finance model ensures that merchants are paid upfront, eliminating risk, while its suite of plugins and APIs facilitates easy integration for WooCommerce and Magento, allowing merchants to integrate simply.

As Raylo’s success story continues to unfold, the company invites investors to join its mission to combat e-waste and foster a sustainable future for all. By participating in the upcoming Crowdcube campaign, individuals can become part of the solution to the global e-waste crisis.

ENDS

About Raylo

Our mission is to accelerate the move to a circular economy. Consumers and retailers will only make the transition if it is cost effective and simple. That’s where we come in. Our technology platform enables lease-and-reuse of consumer goods, which makes them more sustainable, accessible and affordable. We’ve started in the UK with consumer electronics, next up is bikes.

​​About Channel 4 Ventures

Channel 4 Ventures is an innovative corporate venture activity for Channel 4, which invests in high potential, early-stage companies using a media-for-equity model. This model enables companies to use high quality TV advertising slots to drive significant awareness of their products within the UK population. Since inception in 2015, Channel 4 Ventures has completed 40+ investments in consumer and SME-focused brands, including Pinterest, carwow, Airtasker, what3words, Strike, and Oddbox, working alongside leading institutional investors.