Jayne Sibley, who created Sibstar, a debit card and mobile app that helps people living with dementia and their families to safely manage everyday spending, has secured £125K from BBC Dragons’ Den investors, Sara Davies and Deborah Meaden, to further drive financial inclusion and equality.
Southampton-based Jayne, who came up with the concept for Sibstar whilst caring for both of her parents with dementia, appeared on the show on 29th February alongside her life and business partner, Martin Orton, impressing both Sara and Deborah with her unique solution to a problem faced by many families living with the condition. The Dragons were particularly interested to hear about the success Jayne had already achieved with the business since it launched in March 2023 – despite having no previous professional experience in financial services.
Third-party investment has been critical in bringing Jayne’s life-changing brand to market, so when the opportunity to appear on Dragons’ Den came up, she jumped at the chance to secure significant financial and strategic input from the famous entrepreneurs.
Jayne says: “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.”
The company is supported by Alzheimer’s Society, through its Accelerator Programme, which champions tech innovations that help to improve the lives of people living with dementia. Sibstar is also partnered with Mastercard to provide a reliable, industry-leading service.
Rich Oakley, Associate Director of Research and Innovation, at Alzheimer’s Society says: “Too many people living with dementia face barriers in using financial services, leaving
them with less control of their own money and vulnerable to scams. Alzheimer’s Society is dedicated to making the financial sector more dementia-friendly, as well as raising awareness of the challenges involved. This is why we chose to support Sibstar as part of our innovation programme, to help develop a game-changing app and debit card to give people living with dementia financial security and more control of their money.”
Deborah Meaden comments: “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.”
Sara Davies adds: “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.”
Sara and Deborah both offered £62.5K, each for a 5% share of the business.
Watch Jayne face the business moguls on iPlayer.