Raffolux, the young British start-up, is being cited as one to watch in 2021, 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 and men with the vision, Gerry Lianos and Harry Hammond, both aged 24, recognised that the online raffle sector was under-developed but primed for growth in the UK. The market was tired, largely occupied by single purpose raffle platforms – e.g. property or automotive – and a plethora of casual players. Gerry and Harry’s bold ambition from the start was to build an aspirational, mass-market brand that would become the clear market leader.
It’s an insight which has been supported by an impressive roster of investors as Raffolux has received over £1,000,000 in seed funding – most of it raised during lockdown – from high-profile investors in the technological, e-commerce and finance sectors.
The explosive growth opportunity:
Since launching in March 2019, Raffolux has generated over £5,000,000 in annualised revenue and the figure is growing by 10 % each month, thanks to a combination of targeted marketing, strategic partnerships with charitable and commercial firms, plus trusted technologies and reliable systems.
Not forgetting the growing consumer appetite for at-home entertainment, combined with the quality of prizes on offer. In any given week people can win prizes from BMW-Mini, Dyson, John Lewis, Gucci, Apple and impressive cash-prize draws too. With every ticket bought, a percentage of the proceeds goes towards a number of charities including Great Ormond Street Hospital, Blue Cross, Worldwide Cancer Research and Women’s Aid, having donated over £150,000 to UK charities to date.
Transparency and setting the bar high:
Since it started trading, the company has already secured over 45,000 registered users and its commitment to openness and transparency has been reflected through consumer feedback – Raffolux currently holds a 5* Trustpilot rating.
Gerry and Harry are so committed to operating and growing their business with transparency and integrity, they want to (quickly), become known in the grey and unregulated category of online raffling as the standard by which others should set their benchmark.
Gerry Lianos, CEO and Raffolux Co-founder says: “Our ambition for Raffolux is huge. We’ve spotted a gap in the market which has tremendous growth opportunity and we believe we’re the right people to rip up the rule book and re-build the category. Our flexible model means we can respond to consumer trends and we’re committed to operating at the highest standards of fairness and transparency. It’s an exciting time for at-home entertainment brands as interest in the category is growing and with 10% growth month-on-month, we’re incredibly optimistic about the future.”
Harry Hammond, COO and Raffolux Co-founder continues; “We have big plans for the next 12 months, both in terms of financial targets but also around the brand partners we’re in conversations with too. We feel like we’ve been given the gift of a blank canvas and it’s time to re-shape how things look.”