A City of London technology company that lets people lease phones, laptops and tablets for a monthly fee, with the aim of making the electronics economy more circular.
Raylo is a subscription platform for electronics. Customers can choose a new or refurbished phone, tablet or laptop and pay a monthly fee instead of buying it outright, then return, swap or keep it at the end. Its consumer and business marketplace is Raylo.com, and its second product, Raylo Pay, lets other electronics brands offer subscriptions directly to their own customers online. It describes itself as category-defining tech subscription infrastructure for businesses and consumers. When a device is returned, it can be refurbished and leased again, which keeps it in use for longer.
The company says its mission is "to accelerate the move to a circular economy" by making devices more accessible, affordable and flexible. Karl Gilbert is its co-founder and chief executive, and Jinden Badesha its co-founder and chief product officer. Its product and developer teams have built its subscription technology since 2019. It says its model benefits consumers, businesses and the environment. Its stated values include walking in your customers' shoes, focusing on the most important problems, staying curious and welcoming different views, and being gritty, with individual ownership.
Raylo Group Limited is registered in England and Wales and is authorised and regulated by the Financial Conduct Authority for consumer hire agreements. Its head office is in the City of London, at New Street Square, and about 100 people work in its UK offices according to its About page. A job-site profile puts the team in the 101 to 200 range. It says it has over 250,000 subscribers. Sky, Channel 4 Ventures and S&P Global are named as backers, and S&P Global issued a second-party opinion on its green financing framework. We did not read about any UK sites beyond London.
On culture, a job-site profile says Raylo offers hybrid working, family-focused leave policies, stock options for all employees, a learning and development budget, free breakfast and snacks in the office, and regular socials. It reports a Glassdoor rating of 4.6, and that 39% of its employees are women. All of this is the company's claim or a third-party site's snapshot, so it can change. We found no formal B Corp status, so we have not claimed one.
Because the business combines technology, finance and sustainability, it employs software and data engineers, product and design staff, customer support teams, risk and credit analysts, operations and logistics people, and marketing and partnerships staff. Its tagging on job sites includes fintech, hardware, lending and sustainability. If you are curious about how finance and technology can be used to reduce waste, this is a company to explore.
Website: www.raylo.com
PURPOSE helps school and university students explore 62 sectors and over 1,000 entry-level careers in the UK, then connects them directly with employers.
Explore PURPOSE