People’s Champion finalist 2017: Koru Kids
Is the nanny sharing platform helping families save money on childcare costs your Startups Awards People’s Champion?
Start-up name: Koru Kids
Founder: Rachel Carrell
Started in: 2016 (launched January 2017)
Based in: London
Business description: Nanny sharing platform
The Koru Kids story:
Returning to work after maternity leave, Rachell Carrell saw that the UK’s childcare sector was falling well short of what modern families should expect. In Carrell’s view, the industry was filled with “eye-watering childcare costs”, patchy quality and an inadequate infrastructure.
Motivated to quit her job and start childcare service that would be “the world’s best”, Koru Kids was created.
Koru Kids is a network of nannies that matches up two local families with one nanny who looks after their children together to help them save on costs. The start-up believes that this model can help families save up to a third on childcare costs – which cost an average of £37,000 in central London – and help nannies get paid 25% more, whilst children get to make new friends. A win-win for all parties.
In return for an ongoing commission, the platform takes care of all the adminstration including contracts, payments, taxes, and pensions.
Launched just nine months ago to coincide with a £650,000 seed investment raise, Koru Kids has already amassed a 3,000-strong network of families in London, with revenues growing 20% month-on-month.
Engaged in an extensive programme of training and recruiting hundreds of university student nannies – with the ambition of serving 10,000 families in 12 months’ time – Koru Kids will soon launch emergency and holiday care and has plans underway to roll out to other British cities.
International growth is also in the pipeline with San Francisco and New York key markets for Koru Kids.
Why Koru Kids made our shortlist:
Carrell was previously responsible for overseeing the growth of online healthcare service DrThom.com to serve 1.3 million people across three countries as CEO. With Koru Kids already growing fast since launch in January, it won’t be long until Carrell replicates that success with her current venture and gets on track to fulfilling her ambition of building the “world’s best childcare service”.
Mother of a three-year-old and with another on the way, Carrell is an inspiring entrepreneur and role model for budding female entrepreneurs and women in business.