Monzo founder Tom Blomfield leads £500k investment round into Lottie, a UK HealthTech start-up transforming the social care sector
The UK elderly care sector comprises 12,500 care homes with a combined total of 480,000 registered beds. A rapidly ageing population means the elderly care sector is currently forecast to be unsustainable beyond 2028 without increased investment and new technology innovation.
Attempting to tackle this issue is newly launched HealthTech start-up, Lottie, which recently closed its pre-seed investment round of £500,000 at a pre-money valuation of £5 million.
The People’s Care Company
Lottie, also known as The People’s Care Company, is a digital marketplace that connects care seekers to the UK’s best care homes and at a fair price.
The social impact business has been founded by brother duo, Chris and Will Donnelly, with a mission of empowering care seekers and building the later living sector of the future. Chris Donnelly is the founder and CEO of @Verb Brands, the UK’s leading luxury digital agency, while Will comes from a healthcare and property background, having most recently spent 5-years at CBRE where he established himself as one of the UK’s leading social care real estate advisers.
Tom Monzo (Founder of Monzo Bank), Victoria van Lennep (Founder of Lendable), Accel Scouts, Jacob Haddad (Founder of AccuRx) and Dominic McGregor (Founder of Social Chain and Government Adviser) are amongst a collection of investors who have backed Lottie.
The UK’s Best Care Homes
Lottie’s marketplace has launched in England’s south-east region with a capped capacity of 250 care homes, ranging from the sector’s leading not-for-profit and private organisations, through to the industry’s best rated and most innovative care providers. Beyond this, the founders aim to roll out Lottie into every care and retirement market throughout the UK and to launch several pioneering data products.
Co-Founder Chris Donnelly, 31, said:
“Lottie will be the care industry’s most advanced technology platform, optimised to simplify, streamline, and supercharge the care home search process. Care seekers are given the freedom to design their dream care experience on Lottie, while care partners benefit from higher resident admissions, increased revenue and a streamlined booking process. Our tech platform has been built with both care seekers and care providers in mind.”
The care homes listed on Lottie are handpicked and have been vetted by the company’s team of care experts based on their care quality, home culture and ethical practices. From outstanding care ratings and 5* customer reviews to luxury facilities and thriving home experiences, Lottie partners with the UK’s best care homes that offer an enhanced resident experience and home culture like no other.
UK Wide Expansion
Lottie is currently a team of five including its two co-founders, Chris and Will Donnelly, and ex-Lendable product lead, James Payne.
Co-founder Will Donnelly, 26, who has 7-years’ experience working in the social care sector, has explained the funding will be used to “develop several new tech products, expand Lottie’s marketplace UK wide and to grow the team significantly.”
Social Channels: @thankslottie