For the first time in their industry, Raffolux, a digital raffle operator has secured an impressive £1.5 million investment through a unique fundraising initiative with UKTV Ventures.
The partnership involves an investment in premium advertising on UKTV linear TV channels in exchange for minority equity stakes in direct-to-consumer start-ups. They aim to help the business scale at pace to become a household brand name in the UK.
Brendan Kilcawley, Director of UKTV Ventures:
“It is an exciting time to be partnering with Raffolux, and we are happy that the team are embracing the power of TV advertising to boost brand awareness and accelerate their growth. It is a pleasure to work with Gerry and the Raffolux team and we look forward to seeing their advert on the UKTV network over the next year.”
UKTV Ventures’ £1.5 million “airtime-for-equity” investment will allow Raffolux to launch a TV advertising campaign from October 23rd on the broadcaster’s seven linear channels – Dave, W, Gold, Alibi, Drama, Yesterday, Eden. The company will benefit from access to an audience of over 26 million viewers a month and in return, UKTV will gain an equity stake in the business.
Raffolux launched in 2019 and has since solidified its position as the leading player in the UK market. Its modern take on the classic raffle has not only given thousands of people the chance to win coveted prizes but has also enabled them to support charities close to their hearts. Raffolux has given away over £11 million pounds in prizes to over 65,000 winners and has raised over £600,000 for charities across the nation.
The TV advertisement features iconic British elements such as black cabs, London buses, and quirky coffee shops and revolves around the concept that anyone has the potential to become a Raffolux champion. In fact, there are so many of them that you might just encounter them in your everyday life.
Gerry Lianos, Co-founder of Raffolux:
“We are extremely excited about this partnership with UKTV Ventures and see this not only as a brilliant opportunity to propel the brand to new heights, but also to continue to raise money for our brilliant charity partners”
UKTV Ventures is committed to helping companies new to TV advertising build their brand and scale up by benefiting from the wide reach, trust and recognition only achieved through TV advertising. Similar to venture capital, UKTV Ventures is a funding model which invests airtime, instead of cash, in burgeoning high-growth companies looking to accelerate their growth.
