Raylo increased its debt facility to £125M it also received green financing. Understand how Raylo’s circular model eliminates e-waste through remodeling and reuse of electronics.
Introduction:
British circular device subscription platform Raylo has more than doubled its debt facility to £125m, obtaining unprecedented green financing. As a consequence of this fresh deal with NatWest, and Quilam, Raylo will be in a position to advance the cause of sustainability in technology, affordability, and accessibility.
Circular Economy Model of Raylo:
Raylo supplements the job of promoting circularity in the distribution of consumer electronics. Products in Raylo’s leasing model are returned and recycled to other users with enhanced value for more than six years. Raylo also extends the lifespan of devices, preventing them from becoming e-waste and ensuring proper recycling at the end of their use.
Sustainable Business Growth and Business Expansion:
Over the last 3 years, Raylo has produced robust growth with a 40 times increase in size and reached over 100,000 customers. The increased debt facility will enable Raylo to cover a broader range of electronics while at the same time being able to maintain a low price scale. Such growth is consistent with Raylo’s vision to make innovative technology both environmentally sound and increasingly obtainable to the populace.
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For the first time, First FinTech has Obtained Green Financing:
Raylo was the first such FinTech business to secure green financing, with an S&P Global independent second-party review. Such a circular business model complies with ICMA Green Bond Principles and LMA Green Loan Principles to provide a competitive advantage to Raylo managing its facility cost while providing more options to customers. The green financing cements Raylo’s sustainable credentials and is a green light for other FinTech organizations to follow.
Commitment to Sustainability:
Raylo’s CEO Karl Gilbert highlighted the future of sustainable business, emphasizing the growing opportunities for expansion and development. With the unfolding of partnership with NatWest, and bringing down on electronic perspectives, Raylo has the vision to head the market in environmentally friendly technology. In terms of this mission, the green financing deal will ensure that electronic devices are made affordable and that there is assurance for their proper re-use.
Conclusion:
Hailed as Britain’s first green technology financing provider, Raylo has set the tone with its £125 million debt facility. The worldwide successful refurbishment and reuse of devices minimize e-waste, drive the circular economy, and make technology affordable for everyone at Raylo.
