Discover the Game-Changing Revival of Hire Purchase!

Immerse yourself in the world of finance and technology with Editor’s Digest for free. Roula Khalaf, Editor of the FT, handpicks her favorite stories in this weekly newsletter, providing insights into the ever-evolving landscape of financing and electronics.

1. 1970s Comebacks: Strikes aren’t the only thing making a comeback from the 1970s. Remember hire purchase (HP) payments? These were a defining feature of the era, much like the clunky TVs that adorned British homes back then. Fast forward to today, and while financing and technology have evolved significantly, there’s a nostalgic feel to the current wave of offerings. Start-ups like Raylo are revolutionizing the market with innovative subscription models like "lease and reuse."
2. Changing Trends: The era of massive electronics prices, which spelled the end for giants like Radio Rentals, is long gone. Today, you can get your hands on top-of-the-line tech at a fraction of the cost. With same-day delivery and a plethora of Buy Now Pay Later options, ownership of the latest gadgets is just a click away.
3. Raylo’s Revolution: Enter Raylo, a cutting-edge start-up valued at £100mn, challenging the norms of traditional HP. By offering customers the latest gadgets on a subscription basis, Raylo is not only keeping up with the times but also promoting sustainability. Their model ensures that gadgets are reused, reducing electronic waste and benefitting multiple users over time.
4. Upgrade Flexibility: In a world where technology becomes outdated almost as soon as it hits the shelves, Raylo’s subscription model allows customers to upgrade seamlessly. Whether it’s at the end of an annual plan or on a monthly basis, users have the flexibility to stay up-to-date with the latest tech trends.

Let’s embrace the evolution of financing and technology with open arms. As Raylo scales up its operations, we can look forward to a future where sustainability, innovation, and convenience intersect seamlessly. Join the movement towards a more sustainable tech landscape, where gadgets aren’t just disposed of but passed on to new users. Stay tuned for the unfolding story of Raylo and the transformation it brings to the world of tech financing.