With the economy teetering on recession , and sales of mobile phones and other consumer electronics slowing down globally, a U.K. startup called Raylo that’s leaning into both of those themes has picked up £110 million ($136 million) to grow its business, offering consumers access to new gadgets by way of short-term leases. The London-based company currently operates in the U.K. selling monthly subscriptions for phones, tablets and laptops, and it plans to use the funding both to expand that list to a wider range of gadgets like e-bikes, as well as to continue investing in its tech, which includes an AI-based platform to assess risk for each sale, recommendation tech and a platform called “Raylo Pay” that is embedded by third-party merchants for Raylo to power leasing services for them. The circular aspect of its sales model, the company said, is also the basis of another development at the business: Raylo said it now has “ B Corp ” status — which signifies that as a for-profit co...