A debit card and mobile app that helps people living with dementia and their families to safely manage their spending has secured a £125k investment on Dragons’ Den.
Jayne Sibley came up with the concept for Sibstar whilst caring for both of her parents with dementia.
She appeared on the BBC show on Thursday alongside partner, Martin Orton, and viewers saw her secure backing from Sara Davies and Deborah Meaden,
The Dragons were particularly interested to hear about the success the Southampton-based entrepreneur had already achieved with the business since it launched in March 2023 – despite having no previous professional experience in financial services.
Sibley said: “Going into the Dragons’ Den was a hugely emotional experience. I founded the business after experiencing my own parents’ struggles with money as their cognitive abilities declined.
“I had to open up about some very difficult times, but the Dragons were very supportive and empathetic.
“Securing investment from both Sara and Deborah means the world to me. Not only have two of the most successful female entrepreneurs in the country recognised the potential in my company, but their input and endorsement can only serve to make financial services more accessible for underserved groups in our society.”
Jayne Sibley and Sara Davies on Dragons’ Den
The Sibstar debit card is pre-loaded with funds. All of Sibstar’s functionality can be instantly switched on and off, delivering a
flexible solution which can adapt as the needs of individual customers’ change.
Meaden said: “Jayne’s idea is so simple, but has the ability to transform lives. I was impressed by how she’d taken her own lived experience and channelled it into making an impressive financial services product that’s already secured a foothold in a sector in which it’s notoriously difficult to achieve cut-through.
“I’m looking forward to being involved in the next stage of Sibstar’s exciting journey. Sibstar is the best kind of investment, one that has an important reason to be and makes a big difference to people’s lives.”
Davies added: “In the coming years, sadly, more and more families will be affected by dementia and it’s critical that the business community gears up to serve a wider variety of needs.
“I think many families out there are going to be extremely grateful to Jayne for addressing a common challenge for people with dementia, and I’m excited to offer the benefit of my experience to help those affected live independently for longer.”
Meaden and Davies both offered £62.5K, each for a 5 per cent share of the business.