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Finnish startup raises €4M to offer an active and happy life to elderlies

Finnish startup Gubbe has closed a €4M late-seed round backed by Swedish early-stage venture capital firm Spintop Ventures and Tesi (Finnish Industry Investment Ltd.). The startup aims to provide happy and also active old age to elderly people. The seeds of the idea that formed the basis of the initiative were sown when its founder Sandra Lounamaa began to seek a solution to his grandmother’s loneliness.

During this search, she also met her partner Meri-Tuuli Laaksonen, a social and health teacher who has extensive experience as a physiotherapist, especially in the elderly. The two partners, of course with the rest of the team, are trying to create an environment where they can receive care services in order for the individuals who are quite advanced to participate in life more actively.

Gubbe raises EUR 4 million to combat loneliness among elderly

Finnish startup Gubbe has raised a EUR four million round to speed up Finnish expansion and international roll-out of their business, which supports elderly people combat loneliness through access to Gubbe helpers. The round was led by Spintop Ventures, in syndication with Tesi (Finnish Industry Investment Ltd), a large and recognized family office and high-profile angel investors.

Tesi’s investment in Gubbe was made from the temporary Venture Bridge special investment programme that was closed at the end March 2022 for initial investments.

Gubbe, Tesi, Joni Karsikas

”Gubbe’s mission resonated strongly with us. The increasing elderly loneliness is an universal problem, and this team is driven to make a change” says Tesi’s investment director Joni Karsikas.

The feel-good tech company Gubbe aims to be a complement to traditional elderly home care by connecting young people and students with elderly people needing help with chores or just someone to talk to.

Gubbe, Sntop Ventures, Erik Wenngren“Supporting Gubbe in their fantastic feel-good adventure will be an amazing journey and we see substantial international potential, especially with the next target market, the UK, , open for these kinds of services” says Erik Wenngren, co-founder and partner at Spintop Ventures.

Through the Gubbe subscription the elderly is matched with a young person, preferably someone they have something in common with, and gets a Gubbe-visit from a couple of times a month to several times a week.

“There is a worldwide lack of good elderly care providers. We also suffer from a nursing shortage that will only get worse as the population ages at a more rapid pace. We exist to solve these problems; to enable an active and happy life for all elderly people and to inspire young adults to work in elderly care. We are so proud to have this talented group of investors backing our vision” says Gubbe’s Co-founder and CEO Sandra Lounamaa and Co-founder Meri-Tuuli Laaksonen.

The typical Gubbe visit takes place in the elderly’s home, but there are no limits to taking a walk together, going grocery shopping or watching that latest Bond movie at a cinema together. This has proven to improve the life quality of the elderly significantly, while giving their relatives peace of mind and a meaningful side job for young people. With the 4 MEUR in fresh funding, Gubbe is ready to use the learnings from their Swedish market launch in larger European markets.

Click here to read more funding news.

Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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