Raylo offers a leasing service for electronics, including phones, tablets, and laptops, with monthly subscriptions starting at £5.99. This model provides users with flexible access to the latest devices without the upfront costs of purchasing, while promoting sustainability through device refurbishment and reuse.
Funding
$180.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
The high upfront costs of purchasing new electronics like phones, tablets, and laptops can be a barrier for consumers who want access to the latest technology. Traditional ownership models also contribute to e-waste as devices are often discarded after a short period, even if they are still functional.
Solution
Raylo offers a subscription-based leasing service that provides users with access to a wide range of electronics, including smartphones, laptops, tablets, consoles, and accessories, without the financial burden of outright purchase. Customers can select a device and a lease term (monthly rolling, 12, 24, or 36 months) to suit their needs and budget. At the end of the lease, users can upgrade to a newer model, continue paying monthly, or return the device. Raylo promotes sustainability by refurbishing and reusing returned devices, extending their lifecycle and reducing e-waste. The service includes free next-day delivery, a lifetime warranty, and the option to add insurance for damage, loss, or theft.
Target Audience
Raylo's primary customers are consumers who desire access to the latest technology without the high upfront costs and commitment of traditional ownership, as well as those who value sustainability and reducing electronic waste.
Features
- Flexible leasing terms: Monthly rolling, 12, 24, or 36-month options
- Wide selection of devices: iPhones, Samsung Galaxy phones, consoles, MacBooks, and more
- Free upgrades: Option to upgrade to a newer model at the end of the lease term
- Refurbishment and reuse: Returned devices are refurbished and given a new life
- Free next-day delivery via DPD
- Lifetime warranty included
- SIM-free phones: Unlocked devices compatible with any carrier
- Soft credit check: Applying has no impact on credit file
- Optional insurance: Coverage against accidental damage, loss, and theft
- Free eco-case and screen protector