Ransomware-as-a-Service (RaaS) is analogous to software-as-a-service (SaaS), the cloud-hosted software solutions sold by legitimate vendors. Just like SaaS applications, RaaS is sold on a cloud-based subscription model to anyone who is willing to sign up.
It's designed to make cybercrime accessible to anyone. Advanced cybercriminals write the malicious code, and sell it to lower skilled criminals, often with a revenue split between the two. A new variant, called Jokeroo, even offers its criminal subscribers different membership packages, ranging from $90, where the subscriber earns 85% of the ransom payments, to $300 and $600 packages where the subscribers keep all of the revenue and gets extra advanced ransomware features.