Today digital raffle operator Raffolux announced a £1.5 million investment through an "airtime-for-equity" deal with media company UKTV Ventures.
Raffolux allows thousands of people to win prizes and support charities of their choice as they play digital raffles. The company has given away over £11 million in prizes to over 65,000 winners and raised over £600,000 for charities nationwide.
UKTV Ventures is UKTV's investment fund, offering startups the opportunity to enter the TV advertising market in exchange for a minority stake in their company. This is described as airtime-for-equity. Research by Borderbridge in 2022 showed that media-for-equity is a critical development stage in generating B2C unicorns, where 60 percent of media-for-equity deals were made in the last five years, and media investments are 3X higher than VC investments at seed and early-stage funding.
Raffolux benefits from access to an audience of over 26 million viewers a month, and in return, UKTV will gain an equity stake in the business.
Gerry Lianos, Co-founder of Raffolux, comments:
"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, said:
"It is an exciting time to be partnering with Raffolux, and we are happy that the team is 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."
Lead image via Raffolux. Photo: Uncredited.
Would you like to write the first comment?
Login to post comments