Dementia debit card Sibstar wins £125k Dragons Den investment

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A business owner has secured £125k on Dragons’ Den for her debit card and mobile app for people with dementia.

Jayne Sibley, from Winchester, has made a significant breakthrough on Dragons’ Den with her innovative business venture, Sibstar.

Inspired by her personal experience while caring for her parents diagnosed with dementia, Sibley developed a debit card and mobile app aimed at helping families manage everyday spending for individuals with dementia.

The Sibstar card and app offer a safe and efficient way for families to handle finances, addressing the challenges faced by individuals living with dementia. Launched in March 2023, the platform allows caregivers to oversee and manage spending, providing peace of mind and financial security.

Sibley shared her emotional journey on the BBC show, recounting the difficulties she faced while caring for her parents. Managing finances became particularly challenging, with her mother falling victim to scams and experiencing confusion with everyday spending. This led Sibley and her brother to make the difficult decision of restricting her mother’s access to money, ultimately impacting her independence.

Sibstar aims to restore independence by providing individuals with dementia access to a pre-loaded debit card, managed by caregivers through a user-friendly mobile app. The platform allows for customization of spending limits and restrictions, ensuring responsible and secure financial management.

The Dragons’ Den investors, Sara Davies and Deborah Meaden, were impressed by Sibley’s heartfelt pitch and the potential impact of her product. Both investors offered £62.5k investment for a 5% share in the business, recognizing the transformative potential of Sibstar.

Deborah Meaden commended Sibley for channeling her personal experience into a practical solution that addresses a pressing societal need. Sara Davies expressed enthusiasm for the opportunity to support families affected by dementia and praised Sibley’s initiative in tackling a common challenge.

Since the Dragons’ Den episode aired, Sibley noted a significant increase in interest and inquiries about the business. The exposure from the show has led to a surge in social media following and a substantial rise in business inquiries, underscoring the potential impact and reach of Sibstar in supporting individuals living with dementia and their families.