Channel 4 to make Irish co-founded Raylo a household name with new deal

Broadcaster has joined up with Macquarie on a cash and airtime deal for the smartphone subscription provider

Raylo co-founder Karl Gilbert. Picture Colm Lenaghan/ Pacemaker

Raylo, an Irish co-founded smartphone subscription provider whose backers include Telefónica, has raised £5.2 million (€6 million) in cash and airtime in a new funding round led by Macquarie and Channel 4 Ventures.

The company, which has now raised £21 million to date from investors, also confirmed a new crowdfunding campaign to allow individuals to own a stake in the fast-growing company.

The funding news comes less than eight months after Raylo agreed a £110 million (€125 ...