UKTV Ventures signs Raffolux deal
October 16, 2023
Raffolux, the digital raffle operator, has secured a £1.5 million (€1.7m) investment through a unique fundraising initiative with media company 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.
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. In return, UKTV will gain an equity stake in the business.
Raffolux launched in 2019 and has is a modern take on the classic raffle. 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.
Gerry Lianos, Co-founder of Raffolux, commented: “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”
Brendan Kilcawley, Director of UKTV Ventures, added: “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.”