Consumer tech

Irish co-founded smartphone business Raylo secures €125m to expand

The company’s platform allows customers to lease devices including smartphones, tablets and laptops

Karl Gilbert, CEO of Raylo: "this financing supports our strategy to further expand our platform and provide even more customers with affordable and sustainable access to the tech products they really want“

Raylo, an Irish co-founded smartphone subscription company, whose backers include Telefónica, has agreed a new £110 million (€125 million) debt financing facility from NatWest bank and Quilam Capital..

Founded in 2019 by chief executive Karl Gilbert, Richard Fulton and Jinden Badesha, the London-headquartered company has a customer services and credit control centre in Gilbert's home town of Belfast.

Raylo operates a leasing platform that allows customers to lease new and refurbished devices, including smartphones, tablets and ...