Osborne Clarke advises Tillo, the leading rewards and incentives platform, on new investment partners

International legal practice Osborne Clarke advises the shareholders of Tillo, the leading rewards and incentives platform and global gift card network, on its investment partnership with Tenzing, a growth investor specialising in tech and tech-enabled businesses in the UK and Europe.  

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. Tillo will benefit from the Tenzing team’s prior experience in the Incentives & Payments sectors and draw support from Tenzing’s experienced investment team.

Tillo is the fifth investment within Tenzing’s £900m Fund III, which closed in 2024, and is one of twenty-one high-growth tech and tech-enabled businesses within the Tenzing portfolio.

Rosie Teo, General Counsel at Tillo, commented: "This transaction marks a significant milestone for Tillo and we really valued having Pippa and team with us on this journey. OC were dynamic, solutions-focussed and easy to get along with. Pippa has long stood out as one of the best in her field, and we can see why."

Pippa Byrne, Head of Private Equity at Osborne Clarke led the team and was supported by Mythri Reddy, Alex Littlefield, Matt Mayes and Sophia Margetts. Michael Carter and Natalie Paddock advised on incentives, Lara Fatemi on employment, Anna Reynolds on corporate tax and Paul Harris on financial services regulatory matters.

In addition to support from Osborne Clarke, Tillo was advised on the investment by EMC Corporate Finance and Crowe.

Osborne Clarke’s Private Equity team comprising 10 Partners and 15 lawyers in the UK is considered a go-to practice for many companies in the technology sector, working with clients ranging from global businesses to fast-growth start-ups and market challengers. The full service team advises at every stage of the investment lifecycle, from investment to exit and everything in between.