close

Live-in care matching app targets £1 billion in sales

carer-II

An app that connects vulnerable older adults with home carers is eyeing its next round of investment as it looks to make £1 billion in sales.

Elder, an East-London based company which matches self-employed carers to families, has raised £10 million since it was founded in 2015 and is now in talks with investors about another round.

“We’re loss-making at the moment, like many start-ups, but we’re targeting £1 billion of sales,” chief executive and founder Pete Dowds told the Press Association.

Story continues below
Advertisement

“Elderly care is a £19 billion market and it’s growing, helped by an ageing demographic and care-home closures.”

Elder charges a flat fee of £795 per week for personal care, 80% of which goes to the carer.

In 2015, Elder secured £1 million in funding from Hummingbird Ventures and then £9 million from MMC two years later.

Tags : appcare matchingElderinvestment
Sarah Clarke

The author Sarah Clarke

Leave a Response