Rest Less, a startup that leverages the “silver economy,” just raised more than €6.8 million for its platform targeted at people over 50. The UK-based business offers a digital community, advocate, and advising platform to this generation.
With further new investments from Sony Financial Ventures/Global Brain and Exceptional Ventures, the €6.8 million raised in a new funding round was headed by Moneta Venture Capital. Strong interest from current investors such as QED Investors, Viola Fintech, Octopus Ventures, MTech Capital, and 1818 Venture Capital enhanced the round.
With this additional funding, the startup can now give more financial assistance, improving older people’s access to reliable and trustworthy guidance on pensions, loans, and other topics.
For many people, reaching the age of 50 is a significant milestone in life, and it typically signals a change in one’s circumstances. Many people begin to look back on their lives and take some time to consider pensions, finances, relationships, and other topics when they turn 50. Many people yearn to get out and meet new people, try out new occupations, and pick up new interests when they approach 50, or as they say, “50 is also the 30.”
Our society is becoming more and more dominated by people over 50, who also control more than 75% of all household wealth. Despite this, there aren’t many digital solutions available for this group specifically tailored to their requirements.
That is the aim of Rest Less. Recently, the London-based business received further money to expand its age-tech solution.
Rest Less seeks to accomplish that. To expand its age-tech solution, the London-based business has obtained more capital.
The tech sector has historically disregarded this sizable and expanding segment of society, according to Rest Less co-founder and CTO Sara Stephens. This is even though they represent a sizable portion of the consumer market, own more than 75% of all family money, and consistently fall short in many important areas. With an aging population and all of the UK’s population increase coming from individuals over 50, we’re proud to be setting the standard for introducing cutting-edge technological solutions to help meet the demands of today’s digitally native midlifers.
Rest Less was founded in 2019 with a clear mission: to enable people over 50 to live their best lives. The platform began as a job and career site that matched age-inclusive employers with its user base, but it quickly grew to offer thousands of articles, guides, and tips that are specifically tailored to help users as they navigate a variety of midlife transitions, including those involving work, health, pensions, relationships, and money.
Rest Less launched Rest Less Mortgages earlier this year, a later-life lending advice platform offering fee-free advice, and Rest Less Pensions earlier this year, a pension platform designed to close the advice gap, demonstrating its commitment to constantly adapt to changing needs of this demographic.
As a membership-driven organization, Rest Less is focused on finding solutions to the issues that are most important to our community, according to co-founder Stuart Lewis. We have always been vocal supporters of our members, giving them a stage and a voice to help bring attention to the joys and challenges that today’s generation of midlifers must deal with. Our members have enormous unmet needs in the areas of employment, healthcare, and financial services. We are thrilled to be able to increase investment in our distinctive financial service products in the pensions and later-life lending area thanks to this most recent fundraising.
The group now has over a million members, including UK TV celebrity Davina McCall. The startup raised €2.6 million back in 2020, and it has been expanding ever since, using that money to expand and enhance the platform.
“We’re happy that Rest Less has grown into an essential and dependable resource for today’s digitally native midlifers,” says Stuart Lewis, co-founder of Rest Less. With a community of one million people, one in seventeen Brits aged 50 to 70 are currently members of Rest Less.
“We are happy to join Rest Less’ path of establishing a technology-driven services platform for the 50+ demographic,” says Adoram Gaash, co-founder and managing partner at Moneta Venture Capital. We support the expansion of the product line’s Fintech capabilities since we believe in this objective.
Image Credit: Rest Less
