Raylo
Tech subscription service
- 21-100 employees
- B2C
- Marketplace
- Sustainability
- Consumer Goods
- Westminster, London, UK
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Company mission
To accelerate the transition to a circular economy.
Our take
As a society, a disposable phone culture has developed which is both expensive and harmful to the environment, but Raylo is offering a more sustainable alternative. Through its platform, consumers can lease new and refurbished devices like phones and laptops, paying a monthly fee for the length of the contract.
Raylo sets itself apart through low monthly charges. This is significant as, despite consumers’ increasing reliance on electronic devices, research from Ofcom indicated many consumers struggle with the affordability of mobile phones. The circularity which Raylo's premise is built on is also essential, to reduce the overproduction of devices and the resulting waste as the world shifts towards more sustainable practices.
In 2022, Raylo cemented its status as an actor for good with its recognition as a B-Corporation. The company has also netted considerable funds, that will enable it to expand operations, with plans to grow its direct-to-consumer channel as well as checkout integration for merchants.
Freddie
Company Specialist at Welcome to the Jungle
Benefits
- 33 days holiday per year (25 days, + an extra 8 days to choose the days that mean most to you)
- Stock options - get a real stake in Raylo’s growth
- Hybrid working environment (London Bridge office)
- Enhanced maternity and paternity leave
- Workplace nursery scheme
- Perkbox membership - hundreds of perks and discounts to support physical, financial and mental wellbeing
- To do your best work, we’ll give you a laptop and a Raylo phone
- Learning budget - we care deeply about investing in your long-term career growth and potential
- Free sustainable breakfast and snacks, every day you’re in the office
- Fun (yet optional) Raylo quarterly socials, plus summer and Christmas parties
Funding (last 2 of 7 rounds)
Sep 2023
$6.6m
EARLY VC
Jan 2023
$69.4m
EARLY VC
Total funding: $110.6m
This company has top investors
Leadership
Jinden Badesha
(Co-Founder & CPO)Previously worked for 4 years at Funding Circle UK, holding various positions such as Product Manager, Head of Product and Investor Experience.
Karl Gilbert
(Co-Founder & CEO)Previously a Portfolio Manager at Gelber Group LLC for 1 year and a VP of Capital Markets at Funding Circle UK for 1 year.