LONDON, UK / ACCESSWIRE / December 13, 2021 / Raffolux the young British start-up, is being cited as one to watch in 2022, as the exciting venture is setting out to transform the traditional raffle into an exciting mass-market digital experience. One which offers people the chance to win premium, aspirational prizes whilst raising money for charities across the UK.
The founders of Raffolux, Gerry Lianos and Harry Hammond, aged 25 and 26, recognised that the online raffle sector was under-developed but primed for growth in the UK. Over 60% of the UK population regularly play the lottery, and yet the average person will be kept waiting many thousands of lifetimes over to be made a lotto millionaire. Gerry and Harry's bold ambition from the start were to build an aspirational, mass-market brand where everyone has the chance to win, that would become the clear market leader.
It's an insight that has been supported by an impressive roster of investors in the tech, play and e-commerce space, and Raffolux has raised over £1,500,000 in funding to date. The company is now looking towards a Series A round in Q2 2022, with keen interest from private and institutional backers in the lead-up to the round.
Launched in March 2019, Raffolux grew its revenue base by over 2000% between the last two financial years and has overseen a fivefold increase of its userbase during that time. Through a combination of partnerships with some of the UK's most prominent charities, a unique marketing proposition, trusted technology and an outstanding young management team, Raffolux is carving out a new niche in the digital soft play industry and attracting a new generation of players.
The range of prizes on offer is vast and diverse, with everything from luxury holidays abroad, brand-new cars (like the G-Wagon live on the website now), the latest in fashion and tech and huge cash sums up for grabs. The best part for Raffolux's members is that from every ticket purchase, a donation is made to a charity of their choice, with a selection including Great Ormond Street Hospital, Women's Aid, Worldwide Cancer Research and Mental Health UK, to name a few.
The company also operates at the highest standards of fairness and transparency, and keep an exceptionally close, data-driven eye on all player activity to ensure that people enjoy the website as an occasional flutter and nothing more. Safeguarding and the line in the sand between healthy and excessive play is a priority for the founders, and their approach is one that's deeply appreciated in customer feedback, with the company holding a 5* Trustpilot rating.
Gerry Lianos, CEO and Raffolux co-founder says: "Our ambition for Raffolux is huge. We've spotted a gap in the market that has tremendous growth opportunities and we believe we're the right people to rip up the rule book and build an entirely new category in this soft play space. Our flexible model means we can rapidly respond to consumer trends and we have an exciting roadmap ahead over the next 12 months; one that should see us both significantly enhance our stature in the UK and embrace the international opportunity for the first time."
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SOURCE: Raffolux