Rest Less, the digital platform serving the Longevity Economy raises £6.1 million Series A funding

by Startacus Admin

Rest Less, the UK's fastest-growing digital community for the over 50s secures major funding boost to support its growth and expand its offering

Fantastic news for Rest Less, a digital platform for the over 50s with the announcement that it has raised £6.1 million to further expand its services for its members. The funding round was led by venture capital firms MTech Capital and Viola FinTech with further participation from existing investors, QED Investors and Octopus Ventures.

Rest Less launched in early 2019 as the UK’s first membership community to offer its members flexible work, learning and volunteering opportunities and its mission has always been to support people in their 50s and 60s and beyond as they move through midlife transitions.

Stuart Lewis, Co-Founder and Chief Executive Officer at Rest Less, commented: “Given the strong demographic growth in the over 50s across developed countries, we are constantly surprised that most venture funding continues to flow into business models targeting millennials and Gen Z - at the exclusion of support and services for midlifers. With this funding round, we are delighted to bring on board some fantastic new investors who understand the seismic demographic shift underway in society and the opportunity this presents to better serve an under-represented audience.

Rest Less will use the funding to grow its member base further, expand its commercial partnerships and significantly expand its Financial Services offering to its members.

Prof. Daniel Tsiddon, General Partner at Viola FinTech, commented: “Rest Less is part of a bigger trend where fintech provides the route to financial inclusion for neglected communities – this time for the 50 plus age group. Despite this group having immense financial power and resources, they are highly underserved when it comes to tech-enabled and digital financial solutions. Stuart and the Rest Less team have done a tremendous job creating a community where its members can look to for support in a myriad of ways – it’s only a logical next step for their members to seek guidance in their financial lives.”

This is definitely a startup to watch - we look forward to seeing the impact that this investment will undoubtedly have.

 

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Published on: 30th June 2021