Longevity Card launches crowdfunding campaign on Seedrs

By Sunniva Kolostyak

Longevity Card, a FinTech hoping to boost money management and healthy lifestyles, has launched a crowdfunding campaign on Seedrs – and has surpassed 60 per cent of its £415,000 target.

The UK start-up chose the online platform Seedrs to offer its community first dibs on investments in the convertible round. Furthermore, ventures raised a record £293 million on the platform in 2020, and the current campaigns on the site are from companies looking to provide solutions that go beyond the pandemic.

Longevity Card is targeting people of the ‘silver generation’ who plans on living long and healthy lives but is inclusive of people of all ages looking to manage money and lead a healthy lifestyle.

Alongside multi-currency current accounts and a debit Mastercard, it offers customers discounts for a variety of health, fitness, wellness, life and health insurance products and services through Longevity Marketplace. Among the 60 represented partners are brands such as Transferwise, Babylon Health, F45, Headspace, Urban, FiiT and others.

The challenger has also integrated an AI-powered fitness tracker – mHealth – which uses data from wearables to reward users with additional Longevity Points which can be converted into exclusive marketplace offers or cashback. Points can also be earned by making payments, cash withdrawals, international transfers, currency exchanges, and so on.

Commenting on the crowdfunding round, Sergey Balasanyan, CEO & Co-Founder of Longevity Card, explained that the decision to crowdfund was driven by a vision to build a strong community around the campaign and to offer a fair and equal chance to become part of the Longevity Card journey.

“Health is the new wealth. It is quite clear that this global crisis will have long-lasting effects. People and financial institutions now have a newfound understanding of their priorities, and the concept of health and longevity will receive greater attention and will be rightly considered as a tangible and precious asset of equal standing to financial health. By combining these two components, Longevity Card allows our customers to take care of their health and their wealth, at the same time, in one app,” Balasanyan said.

Longevity Card was founded with financial backing from Deep Knowledge Ventures. With the success of the current crowdfunding campaign, Longevity Card will use the raised funds to expand their team, increase their user base post-launch and market their solution to satisfy the rising demand from health and financial wellbeing-focused audiences. Currently, the first Mastercard debit cards are live and the app is due for public launch in the first quarter of 2021.

In the future, Longevity Card aims to obtain its own banking licence in order to become a fully authorised financial institution in order to provide its customers with additional financial products such as loans and deposits.