Rest Less, a UK-based digital community, advocate and financial services platform for people aged over 50, today announced it has secured £6 million in a latest funding round.
The investment was led by Moneta Venture Capital, an Israeli fintech fund with additional new investment from Sony Financial Ventures/Global Brain and Exceptional Ventures. Existing investors such as QED Investors, Viola Fintech, Octopus Ventures, MTech Capital and 1818 Venture Capital contributed to the round.
Founded by Stuart Lewis (Chief Executive) and Sara Stephens (Chief Technology Officer), Rest Less launched in early 2019 targeting people aged over 50. As a work and career site, Rest Less initially matched age-inclusive employers with its members. Over the past few years, Rest Less has rapidly expanded to offer thousands of tailored articles, guides, and advice to assist members in navigating the midlife transitions of work, health, pensions, relationships, and money.
The Rest Less Group launched Rest Less Mortgages earlier this year, in response to the challenges members face with access to financial advice. Rest Less Mortgages offers fee-free advice across the whole market, while Rest Less Pensions provides fee-free advice on pensions.
Stuart Lewis, Co-founder of Rest Less, commented: “We’re proud that Rest Less has become an essential and trusted resource for today’s digitally native midlifers. With a one million strong community, one in seventeen of all 50 to 70 year olds in the UK is now a Rest Less member.
‘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 midlifers.”
‘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.”
Sara Stephens, Co-founder and CTO of Rest Less, commented: “Historically the tech industry has ignored this large and growing section of society (for anything apart from later life care solutions). 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 midlifers.”
Adoram Gaash, Co-Founder and Managing Partner at Moneta Venture Capital, commented: “We are glad to join Rest Less’ journey of building a technology driven services platform for the 50+ generation. We believe in that vision and shall support the addition of more and more Fintech capabilities to the product suite.”
