A digital community for the over-50s has raised £6 million in funding.
London-based Rest Less – also an advocate and advice platform – says the ‘silver economy’ controls over 75% of all household wealth but is chronically underserved with tech solutions.
Founded in 2019, the platform started out as a work and careers site matching age-inclusive employers with its member base – but has rapidly expanded to offer thousands of tailored articles, guides and advice to support members as they navigate a wide range of midlife transitions including work, health, pensions, relationships and money.
Earlier this year, it launched Rest Less Mortgages, a later-life lending advice platform offering fee-free advice and Rest Less Pensions, a pension platform designed to close the advice gap.
The funding was led by Moneta Venture Capital with additional new investment from Sony Financial Ventures/Global Brain and Exceptional Ventures. Existing investors QED Investors, Viola Fintech, Octopus Ventures, MTech Capital and 1818 Venture Capital also contributed.
“Historically the tech industry has ignored this large and growing section of society,” said co-founder and CTO Sara Stephens. “This is despite them being an enormous consumer market, controlling over 75% of all household wealth and being chronically underserved in many key dimensions.
“With an ageing society and all of the UK’s population growth coming from people over the age of 50, we’re pleased to be leading the way in bringing innovative technology solutions to help meet the needs of today’s digitally native mid-lifers.”
Rest Less has built a community of more than one million members, including TV personality Davina McCall.
Co-founder Stuart Lewis added: “As a membership led organisation, we are focused on solving the problems that really matter to our community.
“From day one we have been outspoken advocates for our members, providing them with a platform and a voice, to help shine a light on both the joys and complexities faced by today’s generation of mid-lifers.
“We see huge unmet needs from our members in the areas of work, health and financial services. With this latest funding, we are excited to be able to accelerate investment in our unique financial services offerings in the pensions and later life lending space.”