GrandNanny, a platform that matches over 50s who have childcare experience with parents searching for part-time childcare, has raised £400,000 in pre-seed funding.
The London-based startup will use the extra capital to expand its presence across the UK. Its service is currently available in London, and in Brighton following a recent launch.
The funding, shared exclusively with UKTN, came from four investors. They include angel network 3 Sisters Ventures (3SV), early-stage venture capital firm SFC Capital, investment company TwinklHive and childcare entrepreneur Ben Black.
It comes two years after Adele Aitchison founded GrandNanny with the goal of creating a local childcare model that brings midlife and older neighbours into part-time work.
Government figures show that the employment rate for over 50s has fallen since the pandemic after decades of increasing.
On the other side, GrandNanny is aiming to provide a reliable source of childcare for working families, with data showing that average UK childcare costs have soared by more than £2,000 in a decade.
The startup has had over 1,500 registrations from potential child carers – known as “GrandNannies” – since launch.
“Our goal is that we want to see GrandNannies at every school gate in the UK,” Aitchison told UKTN.
GrandNanny has an all-female team of 10, which screens potential GrandNannies and if approved helps them create a profile to send to families that match their criteria.
“Our focus [with the funding] is to improve the functionality and accessibility of our platform over the next 12 months and build new recruitment partnerships,” added Aitchison.
GrandNanny brings in revenue by managing the billing and charging a service fee.
“GrandNanny offers a smart solution for families looking for flexible part-time childcare amid the UK’s childcare crisis whilst creating rewarding job opportunities for the over 50s – driving economic growth,” said Black.
“It’s a business model with a lot of potential for UK expansion.”
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