A COMPANY set up by two northern Irish entrepreneurs to disrupt the mobile phone market and reduce the huge amount of electronics sent to landfill, has announced plans to create 50 jobs in Northern Ireland over the next two years.
Former investment bankers Karl Gilbert (32) from Belfast and Enniskillen man Richard Fulton (50), founded Raylo in 2019 with Jinden Badesha.
Based in London and Belfast, the company allows customers to lease rather than buy electronic devices, including phones, tablets and laptops.
Raylo now has around 80,000 customers, generating around £22 million in annual revenue.
Earlier this month the start-up raised £5.2 million in cash and media for equity in a funding round led by Macquarie and Channel 4 Ventures.
The company is now launching a crowdfunding campaign with individuals offered the chance to own a stake in the business.
Karl Gilbert, co-founder and chief executive of Raylo said the company plan to use the Crowdcube campaign to increase their Northern Ireland headcount by 50.
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"As a Northern Irish-founded startup, we are embarking on an exciting journey to bolster our local workforce in response to recent economic challenges,” he said.
“For our part, with the support of our community through our Crowdcube crowdfunding campaign, we aim to more than double our headcount in Northern Ireland in the next two years by adding an additional 50 people to our team here.”
