The Irish co-founded start-up will use the funding to double its workforce and boost its subscription smartphone service. Raylo, the start-up that lets customers rent their smartphone, has raised $11.5m in Series A funding. The company was founded in 2019 by Karl Gilbert, Richard Fulton and Jinden Badesha and has offices in London and Belfast. The company will use the funding to double its workforce and expand its smartphone subscription service. The funding round was led by Octopus Ventures. The latest round brings the company’s total funding raise to $40m in equity and debt.
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