Longevity Card launches £415k crowdfunding campaign

Longevity focused FinTech launches equity crowdfunding campaign on Seedrs with 60% of target already reached.

UK-based FinTech company Longevity Card has today launched a crowdfunding campaign on equity crowdfunding platform, Seedrs. Longevity Card is bringing new financial products to market, specifically designed for customers aiming to live long, healthy lives, and who want to remain high functioning and financially stable throughout.

Initially targeting a goal of raising £415,000, offering investors a convertible round, the company’s campaign is already more than 60% funded.

Longevity.Technology: Having already raised well over half of its initial target, we expect that Longevity Card will smash through their fundraising goal with ease. Stay tuned for an exclusive interview with Sergey Balasanyan, the company’s CEO and co-founder in the coming days.

Initially founded with financial backing from Deep Knowledge Ventures, Longevity Card’s target audience is people who strive to live longer, healthier lives, and incentivises them with rewards for leading a healthier lifestyle. In a statement, Balasanyan said that the decision to crowdfund was driven by a vision to build a strong community around the campaign.

“We wanted to open up investment opportunities to our community first, so they would have priority access to invest along with VC funds that directly approach us, giving everyone a fair and equal chance to become a part of the Longevity Card journey.”

Longevity Card will use the funds raised by the crowdfunding campaign to expand its team, increase its user base and market its solution to health and financial wellbeing-focused audiences.

In addition to providing digital multi-currency current accounts and a debit Mastercard, Longevity Card offers its customers discounts on a variety of health, fitness, wellness, life and health insurance products and services. These are offered via the company’s portfolio of partners, which currently consists of more than 60 companies, including Transferwise, Babylon Health, F45, Headspace, Urban, FiiT and others.

“Health is the new wealth”

The company’s first Mastercard debit cards are now live and its mobile app is due for public launch in the first quarter of 2021.

“Health is the new wealth,” said Balasanyan. “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.”

The neobank also aims to motivate its customers to lead healthier lifestyles via its mobile app’s mHealth integration. This AI-powered feature tracks users’ fitness activity via wearables and rewards them with additional “Longevity Points” which can be converted into exclusive offers from its partner marketplace, as well as cashback options. Longevity Points can also be earned by regularly using the current accounts for payments, cash withdrawals, international transfers, currency exchange and so on.

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