Europe Fintech

Tech-for-good startup Touco secures COVID-19 Innovate UK grant to build Care Card

Tech-for-good startup Toucan, now Touco, has chosen this week, Carers Week (June 8-14), to announce their rebrand as well as their selection by Innovate UK to help in the COVID-19 response.

Touco, is one of thousands of businesses that applied to the Innovate UK fund, and has now been selected to receive a grant to cover the setup costs of their new Care Card product.

Unlike Starling’s recently launched Connected Card, which last week was announced as having had take up of over 15,000, Touco’s Care Card is designed to be a more flexible and longer term solution for carers.

Touco’s Care Card will be a restricted access prepaid card, configurable when it comes to how much can be spent and where, and crucially the card will be issued in the name of the carer. This feature means that the card can be sent directly to the carer’s residence, the PIN can be set by them, and the carer can use the card to spend online.

Touco CEO and Co-founder Bailey Kursar commented: “Carers Week comes at a time when as a country, we have never appreciated carers more. Having that someone who you know and trust, whether they’re a family member or professional carer, can make a huge difference to your life – from cooking you meals to helping manage bills.

Building the Care Card was something we had planned at Touco for 2021, but then COVID-19 struck. Thankfully Innovate UK’s support has meant we can start work now, share our product with the public sooner, and help more people.”

The Care Card’s flexibility does not mean compromising the safety of the person needing care. They will be able to control the restrictions on the card, block its use or review transactions, all using a web app that will be accessible across computers, tablets or smartphones.

Since starting up a year ago, the Touco team have made a name for themselves building and testing ways to help vulnerable adults get support from carers and family members around managing their finances. In December they released research they had conducted working with the Money and Mental Health Policy Institute, funded by Nationwide Building Society.

According to the terms of the Innovate UK grant, Touco now has six months to build and test their Care Card solution. A waiting list is now live on their website.

Press pack available here


Related posts

Network International Introduces WhatsApp Banking Across Africa With Infobi

Tyler Pathe

Chip sees record crowdfund and strong growth despite current economic crisis

Manisha Patel

Behind the Idea: Moorwand

Polly Jean Harrison