Raylo has raised a $132M debt funding round to offer leasing for smartphones, tablets, and laptops.

 

Raylo has raised a $132M debt funding round to offer leasing for smartphones, tablets, and laptops.  The company is based in the U.K. Raylo offers a subscription platform where customers pay a monthly fee in exchange for leasing smartphones, tablets, and laptops. Once the subscription ends, users can apply for a free upgrade, keep their device, or return it and terminate the contract with Raylo. The company offers lifetime warrants and 30-day cancellations. All returned devices are reused by the company to promote sustainability. NatWest and Quilam Capital led the funding round. Founded in 2019, the company has raised over $170M since its inception.