Sibstar secures £125k from Dragon’s Den

Sibstar secures £125k from Dragon’s Den

Founder of Sibstar, a debit card and app designed for dementia patients and their families to securely manage their funds, has received £125k from Dragon’s Den investors Sara Davies and Deborah Meaden.

The BBC reality series sees various budding entrepreneurs pitch their ideas for hopes of funding. Sibley appeared on the show on February 29th, showcasing her idea to aid people suffering with dementia and their families, drawing from her experience caring for two parents with dementia.

Meaden stated: “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 channeled 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 the an important reason to be and makes a big difference to people’s lives.”

Sibley launched Sibstar in March 2023 and received backing from Mastercard. The debit card is intended to prevent unintentional mismanagement of money, protect user’s from fraud, and support caregivers who bear the burden of handling their finances. The original card charged £4.99 a month with 7.5% going to Alzheimer’s Society, which also supported the venture.

Sibley commented: “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.”

Sara 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.”

The Dragons each offered Sibley £62.5k for a 5% share in her business.

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