Raylo raises $136M to build out its gadget lease-and-reuse ‘fintech’ platform

With the economy teetering on recession, and sales of mobile phones and other consumer electronics slowing right down globally, a U.K. startup called Raylo that’s leaning into both of those themes has picked up £110 million ($136 million) to grow its business, offering consumers access to new gadgets by way of short-term leases.
The London-based company currently operates in the U.K. selling monthly subscriptions for phones, tablets and laptops, and it plans to use the funding both to expand that list to a wider range of gadgets like e-bikes, as well as to continue investing in its tech,

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