Silversurfers seeks backers looking for gold

THE Silversurfers website for the over-50s is searching for £3 million of investment to help raise its profile with new customers.

Chief executive Martin Lock said he is aiming to attract new funds from private finance backers or a ‘large corporate’ firm with access to banks of potential customers.

Silversurfers has about 50 private investors and a high profile roster of non-executive directors including Preston Rabl – who jointly founded WPP with Sir Martin Sorrell – and former Marks & Spencer director Nigel Colne. It has already raised almost £2million of investment.

The website – which includes discussion forums and a discount card – offers holidays, insurance and a dating service. It is also preparing to launch other financial products.

Lock said: ‘Everyone is overlooking this market. But this is not only the single biggest demographic, it also has 80 per cent of the wealth and two thirds of the property wealth.

‘There are only really us and Saga and we have the edge with our internet presence.’