The startup provides a financing system that allows elderly individuals to prepay future rents, enabling them to access home assistance without risking their property. This approach increases their disposable income during dependency situations, ensuring financial stability while maintaining home ownership.
Funding
$8.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many elderly individuals face financial strain when needing to pay for assisted living or in-home care, especially when their pension or savings are insufficient. Traditional solutions like selling property or taking out a reverse mortgage can be undesirable due to the risk of losing their home or accumulating debt.
Solution
Pensium offers a financing solution that allows seniors to access funds for care without selling or mortgaging their homes. The company advances up to double the anticipated rental income of the senior's property, using these funds to cover the costs of a private care facility or in-home assistance. Pensium manages the rental process, including property improvements and tenant acquisition, ensuring a hassle-free experience for the homeowner. The advanced funds, along with interest and management fees, are repaid through the rental income generated over time, while the senior retains ownership of their home.
Target Audience
The primary target audience includes elderly individuals needing financial assistance to cover the costs of assisted living or in-home care, as well as their families seeking a solution that preserves the senior's assets and independence.
Features
- Advances up to twice the expected monthly rental income of the homeowner's property
- Covers costs for necessary property improvements to maximize rental potential
- Manages all aspects of property rental, including tenant screening, contract negotiation, and ongoing maintenance
- Provides a flexible contract that can be adjusted or canceled based on the evolving needs
- Offers a calculator tool to estimate potential funding based on property and care costs
- Ensures the senior retains full ownership of their property throughout the contract
- Provides ongoing support and transparent communication regarding the rental process and financial status