25. September 2023
We have advised tech subscription platform Raylo on its equity funding raise of £5.2 million. Led by Macquarie and Channel 4 Ventures, the transaction follows the company's £110 million debt funding secured via NatWest and Quilam Capital in January.
A certified B-Corp, Raylo provides customers the opportunity to lease their electronics instead of buying them, ensuring a circular economy for items such as laptops, phones and tablets. The company also provides customers a facility where they can hand in unused electronics to be refurbished and given a new lease of life.
With its latest £5.2 million funding round, Raylo achieves a new significant milestone that will support its aim to accelerate the move to a circular economy. Since mid-June 2019, Raylo has raised over £150 million and have recently opened up a crowdfunding campaign.
Commenting on the transaction, corporate partner Howard Palmer, said: "Earlier in the year we advised longstanding client, Raylo, on the equity aspects of its impressive £110 million debt funding. It's great to work together with the team once again on the equity funding and watch the company move from success to success, whilst helping people access the latest technology in more affordable and sustainable ways."
Richard Fulton, co-founder of Raylo, added: "Howard and the Taylor Wessing team have helped the company since its set up and have been with us throughout this whole journey. We trust and value the input from the team and their dedicated support as Raylo continues to accelerate the move to a circular economy."
The transaction was led by partner Howard Palmer with support from associates Emily Thomas and Harry Ruffell in the Corporate Technology team.