International law firm Simmons & Simmons has advised private equity firm Tenzing on its investment in leading rewards and incentives platform Tillo.
Tillo, through its market-leading API, connects over 3,000 global brands to power gift card provision for businesses. Headquartered in the UK, with offices in the US and Australia, it operates in 37 countries and 25 currencies and is actively expanding its presence following a strong foundation of growth.
Tenzing’s expertise and backing will support Tillo’s next stage of profitable growth, as it seeks to capitalise on opportunities in key global markets, particularly the UK and US.
Headquartered in London, with hubs in Munich and Stockholm, Tenzing Private Equity backs European software and tech-enabled businesses valued between £50m and £300m. Tillo is the fifth investment within Tenzing’s £900m Fund III, which closed in 2024.
Private equity partners Tim Hewens and Richard Kyle advised the Tenzing team on the investment.
The Tillo transaction follows Simmons’ support for Tenzing in 2024 and 2025, including its investment in Bannerflow and the successful exit of MetaCompliance.
Tim Hewens and Richard Kyle commented: “Strategically positioned for further global growth, Tillo is a superb addition to Tenzing’s expanding European tech portfolio. Our private equity team is pleased to have supported our longstanding client on the investment.”
