Tillo Partners with Tenzing for Strategic Growth
Deal News | May 12, 2025 | Tenzing Private Equity
Tenzing Private Equity has announced its investment in Tillo, a UK-based digital gift card platform. Established in 2016 by founders Alex Preece and Gareth Gillatt, Tillo has shown significant growth, with transaction values increasing by 50% year-on-year in 2024. With operations in 37 countries, Tillo connects over 3,000 global brands through a single API, and has expanded capabilities with recent acquisitions and launches. In a fully secondary transaction, Tenzing has bought out early investors to support Tillo's next stage of development, capitalizing on the growing demand for digitized payment systems. Tenzing's expertise and Tillo's innovative solutions position them for substantial growth, particularly in the UK and US markets.
Sectors
- Financial Technology
- E-commerce
- Private Equity
Geography
- United Kingdom – Tillo is headquartered in the UK, and the investment by Tenzing, which is also a UK-based firm, highlights the significance of this geography.
- United States – Tillo is expanding its presence in the US market, which is a key focus for its growth strategy.
Industry
- Financial Technology – Tillo operates a digital gift card platform that serves various financial transactions and operates at the intersection of the fintech sector.
- E-commerce – Tillo provides digital gift card services which are inherently tied to online consumer transactions, positioning it within the e-commerce industry.
- Private Equity – The article discusses Tenzing's private equity investment in Tillo, focusing on growth and acquisition strategies typical in this sector.
Financials
- 900m – Tenzing's Fund III, which includes the Tillo investment, closed at 900 million.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Tillo | Target Company | Company | A UK-based B2B marketplace for digital gift cards, providing innovative solutions to connect businesses with global brands. |
| Tenzing Private Equity | Investor | Private Equity Firm | A European tech investor focusing on high-growth opportunities in the technology sector. |
| Alex Preece | CEO | Person | Co-founder and CEO of Tillo, leading the company's strategic direction and growth initiatives. |
| Gareth Gillatt | Co-founder | Person | Co-founder of Tillo, instrumental in its development and growth. |
| Simmons & Simmons | Legal Advisor | Company | Provided legal advisory services for Tenzing's investment in Tillo. |
| Raymond James | Corporate Finance Advisor | Company | Advised Tenzing on corporate finance aspects of the investment. |
| EY | Due Diligence Advisor | Company | Provided due diligence services for Tenzing's investment in Tillo. |