London-based fintech company, has expanded its debt facility to £125 million, backed by NatWest and Quilam Capital. This funding includes a unique green financing arrangement, making Raylo the first fintech to achieve an S&P Global assessment for its sustainable financial model. The company focuses on a circular economy by offering subscription-based access to electronic devices that are refurbished, reused, and ultimately recycled after their lifespan, aiming to promote sustainability and affordability in consumer electronics. 

The increased facility will enable Raylo to further its rapid growth and expand its range of electronic devices, continuing its mission to make cutting-edge electronic devices technology more sustainable, accessible and affordable. Over the past three years, Raylo has grown 40x and now serves over 100,000 customers.

Commenting on the latest developmment, Karl Gilbert, CEO of Raylo, said: “We’re excited to expand our relationship with NatWest and to be recognised for our commitment to sustainability.The S&P green financing validates our circular business model and allows us to offer even more affordable prices to our customers. As we continue to grow, we’re determined to lead the way in making technology both accessible and sustainable.”