EMC Advises Tillo on Significant Private Equity Investment to Drive Continued Growth
May 2025
Deal Type
Acquisition
Our role
Lead Advisor
Rewards & Incentives
EMC Corporate Finance (“EMC”) is pleased to announce its role in the significant investment in Tillo, a UK-based B2B marketplace for digital gift cards by European technology investor Tenzing. The EMC team, led by Ryan Smith, acted as the sell side lead advisor on the transaction.
EMC Support Tillo on Significant Private Equity Investment
Tillo makes gift cards, rewards and incentives simple, efficient and profitable and is challenging the market with a best-in-class plug-and-go API that offers businesses seamless connections to 3,000 global brands.
After running a competitive process and in a significant milestone for the business, Tillo, the leading rewards and incentives platform and global gift card network, is announcing its investment partnership with Tenzing, a growth investor specialising in tech and tech-enabled businesses in the UK and Europe. Tenzing is investing alongside CEO and Co-Founder, Alex Preece, and the continuing management team in a fully secondary transaction to buy out early VC and angel investors in Tillo. Co-founded in Brighton by Alex Preece in 2016, the Company has seen exceptional growth over the last 9 years. With Tenzing’s expertise and backing, the new partnership positions Tillo for its next wave of profitable growth and opportunity to capitalise on the evolving competitive landscapes of its key UK and US markets. EMC has worked with Alex and the Tillo team for several years, supporting them with their first acquisition of Jigsaw Business Solutions in 2024.
We are immensely proud to announce Tillo’s acquisition of Jigsaw Business Solutions. By integrating Jigsaw’s extensive experience in managing high-profile retailer gift card programs into Tillo’s innovative platform and overall service offering, we can offer more tailored, competitive solutions to our customers and strengthen our unique position as leaders in the global gift card market…. I’d like to thank Ryan and the EMC team for their support throughout the process. Their commercial insight and transaction expertise were invaluable in helping us complete our first acquisition. The partnership with Tenzing marks a significant milestone for Tillo. Tillo has been capital efficient and profitable for eight years, resulting in us not needing growth capital as we’ve built something special. Bringing Tenzing on board as our new partner not only provides significant liquidity for our early shareholders but also aligns us with a growth-focused investor who shares our vision and values. With the Tenzing team alongside myself and my leadership team I’m even more excited about what lies ahead.
Alex continued: Ryan and the EMC Team have been alongside Tillo for several years, supporting our first acquisition and now guiding us through this process, demonstrating commercial and technical skill to ultimately deliver an incredible outcome. They have become our trusted advisor and we look forward to working with them in this exciting next stage of our journey.
Alex Preece, CEO and co-Founder of Tillo
It has been a pleasure to work with Alex and the Tillo team on this latest investment. Alex wanted to find a partner that shared his vision to take Tillo to the next stage. The Tenzing team have both the shared ambition and capability that makes this a powerful partnership.
It is extremely rewarding to see a Brighton born technology business continue to grow and thrive. We are thrilled to be part of this success story and look forward to seeing it develop.
Ryan Smith, Director at EMC
We are thrilled to partner with Alex and team to invest in Tillo – we’ve been highly impressed with their ambition and track record, and are excited about the future ahead for the company. We see significant opportunities for growth in the US, continental Europe and further afield via continued product development and M&A all while reinforcing the strength of The Tillo Difference. We look forward to sharing our expertise to accelerate this even further.
GARETH HEALY, INVESTMENT LEAD AT TENZING
Tillo was advised by EMC Corporate Finance (Lead Advisors), Osborne Clarke (Legal) and Crowe (FDD and Tax).
Tenzing was advised on the investment by Simmons & Simmons (Legal), Raymond James (Buy side) and EY (FDD and Tax).
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The EMC Team
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