UK-based startup Lateral has raised £2.5 million in seed funding to launch a new generation of healthcare and financial wellbeing products designed specifically for people aged over 60. The round was led by fintech-focused investor Augmentum, with participation from Triple Point and TinyVC.
The funding will support the rollout of Lateral’s first product, the Lateral Health Plan, as the company targets a fast-growing and often underserved segment of the UK population. More than 14 million people in the UK are now aged over 60, yet many struggle to navigate increasingly complex healthcare and financial decisions later in life.
Addressing a growing gap in later-life support
Lateral was founded to respond to a clear structural gap in the market. While people are living longer, healthier and more active lives, the systems designed to support healthcare access, financial planning and wellbeing in later life have not evolved at the same pace.
The company’s proposition is built around combining health and financial cover with practical guidance, rather than treating them as separate challenges. Lateral believes that access to the right information and support at the right time can significantly improve outcomes, reduce stress and help people stay healthier for longer.
The Lateral Health Plan
At the centre of Lateral’s initial offering is the Lateral Health Plan, a single policy that brings together financial cover for private healthcare, nurse-led care navigation and preventative health benefits.
A key component of the plan is a nurse-led navigation service, staffed by qualified case-management nurses. This service is designed to help members understand diagnoses, evaluate treatment options and make informed choices across both NHS and private healthcare pathways.
According to Lateral, many people over 60 find the healthcare system difficult to navigate, particularly when dealing with multiple conditions or unfamiliar treatment routes. By offering personalised guidance and care coordination, the company aims to reduce confusion and improve access to appropriate care.
Preventative health also plays a central role. The plan includes benefits such as annual health checks and evidence-based preventative measures intended to encourage proactive engagement with long-term health.
Lateral has emphasised simple and transparent pricing as a core design principle, addressing common frustrations around complex insurance products and unclear coverage terms.
Experienced leadership team
Lateral was founded by Laura Ashforth and Steven Mendel, both of whom bring deep experience from the health and financial services sectors.
Ashforth previously served as managing director at insurtech unicorn Zego, where she played a key role in scaling the business and developing regulated financial products. Steven Mendel is the co-founder and former CEO of ManyPets, one of Europe’s leading pet health insurance companies.
Together, the founders have built and scaled consumer-facing financial and health platforms, giving them first-hand insight into regulated markets, customer trust and product design.
Ashforth said the company’s mission is to empower people over 60 to live well for longer, by helping them navigate retirement with products designed specifically around their needs rather than treating age as a risk category.
Mendel added that many people in their 60s and 70s are fitter and more active than ever, yet traditional insurers often continue to view this group through outdated assumptions. Lateral aims to reflect the reality of modern later life, where retirement represents opportunity rather than decline.
Funding and next steps
The £2.5 million seed round will be used to launch the Lateral Health Plan, grow the team and build partnerships across healthcare providers and services. The company currently employs a nine-person team and plans to expand as product rollout progresses.
The backing from Augmentum, Triple Point and TinyVC reflects growing investor interest in age-focused health and financial technology, as demographic shifts reshape demand across Europe.
As the UK population continues to age, companies like Lateral are positioning themselves at the intersection of healthcare, financial wellbeing and preventative support, aiming to create more integrated and human-centred solutions for later life.
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