Across global markets a significant demographic shift is taking place: There is a large population bulge of “Baby Boomers,” born in the 1950s and early 1960s who are just in or approaching retirement. This massive demographic group is digitally literate, interested in remaining active, focused on wellness, and conscious of the importance of retirement planning.  

Retirement is one of life’s major milestones. People naturally seek information, ideas, and advice. There is an opportunity to acquire such customers for financial services with the right content and advice-model. We see two key trends creating new market opportunities for companies serving this audience:

  1. Population growth and longevity

In the US, 10,000 individuals turn 65 each day equating to 4 million people a year. This is the first time these customers become eligible for Medicare; and the number of annual Medicare enrollees is expected to grow from 60 million in 2018 to 77 million in 2028.

In the UK, the number of people in the 55 to 75-year-old bracket is growing at more than double the rate of the overall population. Consequently, this cohort will be one of the largest demographic segments by 2029.

                           UK 55 to 75-year-old population, historical and forecast

2. Increasing digital engagement

The buying habits and consumer expectations of over 60s has evolved. Today, most people of this age will be highly digitally literate.

In the US 73% of the Senior population used the Internet regularly in 2019 compared to 40% in 2009 according to Pew Research Center. 55% of people over 65 are making at least one online purchase monthly and this number will continue to grow.

While this cohort wants to use digital services, much of the innovation across fintech, insurtech, and even dating has been focused on a millennial audience. Furthermore, traditional brands that speak directly to this audience have not invested in digital capabilities which has created a gap in the market for startups.

Companies Capitalizing on The Opportunity

MTech Capital has recently invested in two companies that address the needs of today’s active retirees:

Rest Less 

  • Rest Less is an online platform for over-50s in the UK. They provide content, advice and a network for people approaching and in retirement. Key areas of interest include work & volunteering, health & fitness, dating, and financial wellness. MTech Capital recently led a £6m Series A financing alongside Viola Fintech and existing investors (QED Investors and Octopus Ventures).


  • This startup is a direct marketer of Medicare and life insurance to over-65s in the US. Integriant uses advanced digital marketing and a virtual call center of licensed insurance agents. The agents   provide a high touch service that seeks to match an individual’s specific health & life coverage needs with the one of the many policy options the Company offers through a panel of insurance carriers. MTech Capital recently led a $4m Seed financing alongside IA Capital and US News.