Raffo started his playing career with Club Atlético Platense in Argentina. In 1952 he moved to Ecuador to play for Argentina de Quito (now Deportivo Quito). In 1954 he joined Emelec where he would play many seasons, scoring 132 goals. In his later years he played for Everest and 9 de Octubre.
Raffo is considered to be one of the gratest goalscorers in the history of the Ecuadorian football, but the precise number of goals he scored will probably never be known, due to poor record keeping in the early 1950s.
Raffo played international football for Ecuador between 1959 and 1963, he scored 10 goals in 13 games for his adoptive country. He was the top scorer in the Copa América in 1963. He is the only Ecuador player ever to achieve this feat to date.