Raylo raises £30m to expand tech rental subscriptions and launch in the US

Raylo, a UK-based technology rental subscription company founded in 2018, has secured £30 million in funding to support its expansion, including a planned launch in the United States later this year. The funding round includes a £10 million equity investment led by Citibank, which now becomes a shareholder, and £20 million in debt financing from NatWest Group. This latest round brings Raylo’s total debt and equity funding to over £180 million and values the company at approximately $150 million (£109 million) post-money. The company has also announced a strategic partnership with LG, allowing UK customers access to premium TV and audio products, reinforcing its move toward subscription-based consumer electronics. Raylo already has partnerships with major brands including Apple, Dyson, and Sony’s PlayStation. CEO Karl Gilbert highlighted that electronics companies are increasingly shifting from one-time sales to subscription-first models, and that the company’s partnerships and new financing demonstrate confidence from both investors and global tech brands. Other investors supporting Raylo include Macquarie and Channel 4 Ventures, the latter participating through media-for-equity agreements. The company plans to scale its subscription model internationally, leveraging these partnerships to expand its product offerings and reach.