onHand raises capital to tackle social isolation by matching older adults with trusted volunteers
London, United Kingdom – onHand, a technology platform that matches young professionals with older adults who need help with simple tasks, announces that it has closed an early growth venture round with the help of ClearlySo, Europe’s leading impact investment bank. onHand plans to use the new capital to build out its matching technology and add team members to launch deeper into London and in more cities in the UK.
The elderly care market is rapidly reaching a crisis point. 24% of the UK population will be age 65+ by 2037 according to the Office for National Statistics. Older adults need help with everyday tasks and families struggle to manage care: agency services come at prohibitive costs and a high staff turnover means a relationship is rarely established between carer and elder.
At the same time the millennial generation has a desire to give back and donate, not only money, but their time. According to Blackbaud, millennials provided 30% of total charitable donations in the UK for 2018. There is a clear opportunity for a flexible and easy way for younger people to help. At both ends, social isolation is an issue – not only for the older generation but for the younger as well.
onHand helps alleviate the problem by matching trusted volunteers with older adults who need help with everyday tasks from shopping to simply a cup of tea and a chat. Using smart technology, onHand’s mission is to make these interactions affordable, fast and easy.
Sanjay Lobo, founder and chief executive of onHand, commented: “We’re delighted with the level of interest in onHand and hope it speaks to the strength of the idea and the opportunity we have for tremendous growth. This investment will support delivery of our vision to make help for older adults fast, easy and affordable.”
Further commenting, Stefano Capannari, investment manager at ClearlySo: “It was great to work with onHand’s Founder and team. As a high-growth company it was important for them to fill their round quickly and with mission aligned investors – we are excited that this materialized and that the company will now be able to scale and serve the enormous demand from both volunteers and older people.”
Notes to the Editors
onHand matches trusted volunteers with older adults who need help with everyday tasks from shopping to simply a cup of tea and a chat.
Launched in London in 2019, a proud member of Social Enterprise UK, onHand has over 3000 volunteers signed up and has delivered over 1000 hrs of help.
onHand works directly with older adults, their relatives/carers and health services and older adult charities. For every £10 we receive we donate £8 back to charity, which our community helps decide where to donate.
Set up in collaboration with the UK’s largest charities and a graduate of Facebook’s 2018 accelerator, onHand’s mission is to make pre-care help fast, easy and affordable.
The onHand iOS app is available for download in the Apple App store.
ClearlySo is Europe’s leading impact investment bank, working exclusively with enterprises and funds delivering positive social, ethical, and/or environmental impact as well as financial return.
Originally founded in 2008, ClearlySo has helped more than 145 clients raise more than £253 million in impact investment from its extensive network of high-net-worth individual, family office and institutional investors.
ClearlySo is headquartered in London.
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