As the UK’s population ages, millions of people entering later life are finding that existing healthcare and financial products no longer reflect how they live, work, and stay active. A new London based startup believes that gap has become one of the most significant unmet opportunities in the market.
Lateral, a company focused on integrated health and financial wellbeing for people over 60, has raised £2.5 million in seed funding to launch its first product and begin scaling its services across the UK.
The funding round was led by fintech investor Augmentum, with participation from Triple Point and TinyVC. The capital will support the rollout of Lateral’s initial offering, the Lateral Health Plan, designed to simplify healthcare access and financial protection for older adults.
Rethinking support for a growing demographic
Lateral is built around a simple insight. More than 14 million people in the UK are now over the age of 60, yet many health and financial services still treat them as a homogeneous group defined by decline rather than independence.
The company’s nine person team believes that this outdated approach fails to reflect the reality of modern later life. Many people in their 60s and 70s are working longer, travelling more, and actively managing their health, yet face fragmented systems that are difficult to navigate when they need support most.
Lateral aims to change this by combining healthcare access, financial cover, and proactive wellbeing services into a single, easy to understand plan.
A health plan designed around navigation and prevention
At the heart of the company’s launch is the Lateral Health Plan, which brings together financial cover for private healthcare, personalised care navigation, and preventative benefits under one policy.
A core component of the plan is a nurse led navigation service, designed to help members make informed decisions about their care. Delivered by qualified case management nurses, the service supports users across both NHS and private healthcare pathways.
Members can receive guidance on understanding diagnoses, evaluating treatment options, and choosing the most appropriate route for their individual needs. By offering expert support at key decision points, Lateral aims to reduce confusion and stress while helping people get better outcomes from the care available to them.
Preventative care is also central to the offering, including evidence based benefits such as annual health checks that encourage proactive engagement with long term wellbeing.
Transparent pricing and simpler choices
One of Lateral’s stated goals is to move away from the complex pricing structures that often characterise insurance products for older customers. The founders say simplicity and transparency are essential to building trust with a demographic that has historically felt underserved or misunderstood by insurers.
Rather than layering multiple products and exclusions, Lateral’s approach is to clearly define what is covered and how support is delivered, allowing members to make confident decisions about their health and finances.
Founded by experienced insurtech leaders
Lateral was founded by Laura Ashforth, former managing director at insurtech unicorn Zego, and Steven Mendel, co founder and former CEO of pet health unicorn ManyPets. Both bring deep experience in building regulated products at scale and reshaping traditional insurance models.
Ashforth said the company was created to help over 60s navigate an increasingly complex retirement landscape, combining affordable products with expert guidance tailored to their needs.
Mendel added that the industry has long failed to keep pace with changing lifestyles, noting that many older adults today are healthier and more active than previous generations.
Building for longer, healthier lives
With fresh funding in place, Lateral plans to focus on launching its health plan, refining its care navigation services, and expanding its offering over time.
As the over 60 population continues to grow, the company is positioning itself at the intersection of healthcare, finance, and longevity, aiming to support people not just to live longer, but to live well for longer.