London-based startup Raylo has recently received €7.5 million to bring the increasingly well-liked subscription model to stores. The fintech company is reimagining payment methods so that individuals can have sustainable access to the technology they need.
Consumers are finding it harder to make upfront, one-time purchases as the cost of living rises across Europe. The Buy Now Pay Later and subscription models are clearly the most well-liked alternatives as interest in alternative payment methods has surged across Europe as a result of the crisis. As a result, the development of new solutions for the fintech industry is accelerating.
Fintech company Raylo has created a platform that enables organisations to embed a subscription model into payment processes in an effort to pioneer the change in how items are sold and enjoyed. It implies that customers can get the technology they want while still being ethically, sustainably, and financially responsible.
The startup, which was established in 2019, has recently received €7.5 million in additional funding, including a strategic investment from Wayra UK, a subsidiary of the international telecommunications company Telefónica. Macquarie and Octopus Ventures, two previous investors, also took part in the round.
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