Founded in 2018, Raylo Group operates a leasing platform for consumer electronics based on a ‘circular’ model that boosts the circular economy for devices. Their innovative “lease-and-reuse” approach optimises device use, extending the life of smartphones, laptops, and tablets – reducing carbon emissions and pollution through refurbishing devices and recycling the packaging.

Following the initial funding of £25m in 2022, our Speciality Finance team has now structured an up to £65m refinancing of Raylo’s Revolving Credit Facility to further support Raylo’s growth ambitions and new product development. NatWest played a crucial role in assisting with the development of Raylo’s Green Financing Framework and securing a positive Second Party Opinion (SPO) from S&P Global Ratings. According to the ICMA & LMA compliant SPO, S&P highlighted how Raylo’s Green Financing Framework contributes to climate risk mitigation and the prevention and control of pollution.

Richard Fulton – Co-founder and Chief Risk Officer, Raylo: “Working with NatWest on the green loan served as a catalyst for formalising and enhancing Raylo’s sustainability data and governance, including the establishment of an ESG committee. We’re excited to expand our relationship with NatWest and to be recognised for our commitment to sustainability. The SPO from S&P Global Ratings 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.”

John Whinnett – Speciality Finance Director, NatWest: “We were delighted to support Raylo with this financing structure which reflects the ESG ambitions of the business. This latest green loan demonstrates NatWest’s continued support for finance companies in the UK and in particular those who are championing sustainable solutions for their customers.”

Vishal Saxena – Climate & ESG Capital Markets Vice President, NatWest: “This innovative solution is structured to support Raylo’s strategy for minimising carbon emissions throughout the entire product lifecycle by optimising device usage. We’re looking forward to seeing Raylo’s model succeed, grow and be adopted and adapted by our other Specialty Finance clients to support their decarbonisation objectives.”