London’s Raylo, a subscription model for retailers, has raised €7.5mn funding.
In Brief:
Raylo aims to “reimagine” payment options so that retailers can offer subscriptions to their customers.
Its latest funding includes strategic investment from Wayra UK.
It also included Octopus Ventures and Macquarie.
What does this mean?
Raylo Pay aims to offer retailers a new subscription revenue stream that increases their conversion rates at the checkout. There is also a sustainability element which enables customers to return their products when they wish to upgrade.
