Givers has launched its caregiving savings and support platform alongside the close of a $3.5m seed round.
The company claims to be putting money back in the pockets of family caregivers, who account for $470bn in unpaid work annually, whilst supporting them with community, educational resources and time-saving tools.
Givers was founded on the belief that caregiving is one of the most important and underserved socioeconomic healthcare issues in current times. The company stated that caregiving impacts key concerns in the economy, including financial equity, participation in the workforce and healthcare access, costs and outcomes.
Givers founder and CEO Max Mayblum said, “On a personal level, I know the pressures of caregiving firsthand as my own family has worked together to support my aging grandparents and late aunt who valiantly battled cancer. There are countless hours spent researching, calling, driving, organising, and caring for our loved ones.
“It is a full time job. Having spent years working in digital health, I thought I was primed to help my family navigate the operational complexities and costs, but even I got stuck in the twists and turns of the system.
“What started as a desire to help my own family quickly turned into a mission to compensate and support America’s 53M family members for stepping into healthcare roles.”
The FinTech company aims to help people recoup the costs of caregiving, while alleviating some of the emotional stress and mental overhead. Its savings and support platform lowers the barriers to accessing benefit programs.
By using the Givers Card debit card, the platform analyses a caregiver’s spending and. Circumstances to streamline identifying and applying federal and state programs, tax credits, grants, health plan reimbursements, discounts and more.
Earlier in the year, Homethrive, which describes itself as a “caregiving benefit innovator”, raised $20m in Series B funding in a round led by Human Capital.
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