Insuretech start-up, Equipsme, has reached over £700,000 in crowdfunding through CrowdCube, beating their initial target of £500,000.

The company, which specialises in health insurance for businesses at £7 per person, per month, has attracted over 500 investors in their fundraising campaign.

With plans from Equipsme, businesses can insure as few as two people in their organisation and a monthly subscription offers a number of benefits including physio sessions, 24/7 GP access, online health checks, nurse helpline – with no medicals required and policies backed by AXA PPP. Users have the option to upgrade to include stress support, dental and optical and unlimited physio sessions.

Equipsme’s fundraising comes at a time where they have reported a ‘doubling in interest for private healthcare’ as a result of covid-19.

Matthew Reed, Managing Director at Equipsme, explains: “People are inevitably thinking more about their health, and prioritising how they look after themselves and their families. The result is that interest in private medical insurance is actually rising – which at a time when many are facing financial hardship is pretty remarkable.”

He continues: “Traditionally private medical insurance has been for big executives in big businesses, or via a cash plan scheme which requires staff to shell out and be reimbursed.

At Equipsme we think healthcare plans can work for any size of business, and any employee, without the upfront payments, the jargon, or the complications. It’s our aim to make it both practical and affordable, which is why our basic plans start at just £7 per person per month.”

Equipsme falls into the fast-growing space of employee benefits, where organisations and HR practitioners are encouraged to offer free benefits, perks and discounts to their staff to boost motivation and employee retention.

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