Lifted Financial Model
Health-tech Startup Financials (Free Excel Download)
Tech-enabled home care agency providing hourly, overnight, and live-in care for elderly and dementia patients in the UK.
professionals from Deloitte
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About this model
Lifted is a tech-enabled UK home-care agency for elderly and dementia patients. It delivers care through employed carers rather than marketplace contractors, combining operational technology with a direct service relationship for families needing support at home.
Families pay directly for hourly, overnight, and live-in care. Economics therefore hinge on care hours, realised pricing, carer recruitment and retention, utilisation, local branch density, scheduling efficiency, and the ability to maintain service quality across a vulnerable client population.
The model forecasts care hours by service type, realised hourly rate, carer wages, utilisation, branch overhead, and client retention. It includes recruitment, training, scheduling, marketing, working capital, gross margin, operating cash flow, cash burn, and runway.
A turnkey financial model
Live formulas, no hardcoded values
Outputs are driven by live formulas, so the workbook updates from its assumptions instead of relying on hardcoded results.
All assumptions in one tab
Inputs are clearly marked in the Assumptions tab and separated from calculations, making it clear what to change and what to leave intact.
Statements always balancing
For integrated-statement models, the balance sheet, cash flow, and supporting schedules tie through properly.
Distinct schedules for clarity
Debt, working capital, taxes, and cash flow can get messy quickly. We group calculations in clear schedules, not across disconnected tabs.
No hidden macros or external links
There are no unexplained external workbook links or macros to undermine auditability or portability.
Changes flow through the model
Update a key driver and see the impact carry through the forecast, financing, and return outputs. We never use hardcoded numbers in formulas.
About Lifted
lifted.fi
How to build a detailed financial model for Lifted
A complete walkthrough of the business, drivers, and assumptions behind the downloadable Lifted model - distilled from its pitch deck and publicly available information.
Product & value proposition
Three-tier care offering delivered by employed, trained carers using a proprietary digital platform:
- Hourly care from £19/hr (min 1 hr)
- Overnight care from £100/night
- Live-in care from £950/week
Platform components: Client App (visit summaries, wellness data, carer ratings), Carer App (geo-location check-in, task lists, health observations), Admin Console (scheduling, events, incident management).
Differentiation: carers paid London Living Wage; structured daily wellness data collection (mood, sleep, pain, appetite, bowel movements) as backbone for future predictive analytics.
Market
- UK home care market: £9B, doubles by 2035
- 55% of older people living alone
- Care home beds declining -10%
- Market highly fragmented: ~10,000 agencies, none >2% market share
- No explicit SAM or SOM figures in deck.
Revenue model
- Fee-for-service: families pay Lifted directly for care hours at published rates.
- Hourly: from £19/hr
- Overnight: from £100/night
- Live-in: from £950/week
- Carers are employed (not marketplace/gig) - cost structure is a direct labour model with COGS = carer wages + travel.
- No subscription, platform licensing, or insurance billing mentioned; pure private-pay B2C.
- Future product stages (Prolonged Independence, Constant Care) flagged as commercially sensitive / withheld.
Traction & metrics
- Care hours delivered: >6,000 cumulative
- MRR: withheld ("£x*", commercially sensitive)
- Revenue to date: withheld ("£x*", commercially sensitive)
- MRR bar chart shows 7 months of data (April–October 2019) with consistent month-on-month growth; October bar is the highest, roughly 5–6x the April bar - but no axis labels are visible; exact values redacted.
- Note: one large client removed from MRR figures to avoid data skew
- Trustpilot: rated "Excellent", 10 reviews, all 5 stars
Unit economics
- Published price floor: £19/hr (hourly care)
- Carers paid London Living Wage (£10.55/hr as of Oct 2019)
- No CAC, LTV, payback period, or gross margin data in deck.
- Gross margin directionally: revenue per hour minus carer wage, travel, platform cost - not quantified.
Competition / moat
- Competitive framing: incumbent agencies described as paper-based, fragmented, with high carer churn (40% annual) and poor carer conditions.
- Moat claims: proprietary tech platform, employed (not gig) workforce with LLW pay, structured wellness data collection as a long-term data asset for predictive health analytics.
- No explicit competitor comparison table in deck.
Team & funding ask / use of funds
- Rachael (CEO & Co-Founder): ex-McKinsey consultant.
- Sam (COO & Co-Founder): personal motivation from family care experience.
Recommended financial model
- Archetype + why: Direct-labour home care P&L model (care-hours-delivered driver). This is a staffed services business - revenue is hours × rate, COGS is hours × carer wage (with overhead). Not SaaS (no subscription), not marketplace (carers are employed). Closest archetype: DTC services / labour-intensive P&L, similar to a staffing agency with three SKUs (hourly, overnight, live-in). A 3-statement model is appropriate given the capital-intensity of hiring employed carers.
- Forecast horizon & granularity: 3 years monthly (Year 1–2) then annual (Year 3). Monthly granularity needed to model carer headcount ramp and MRR growth trajectory visible in the deck.
- Key drivers & assumptions:
- Active clients (monthly): >6,000 hours delivered total by Oct 2019 - implies ~low hundreds of active client-months; exact client count not stated. Start model at ~50 active hourly clients in Month 1, growing 10% MoM.
- Care hours per client per month: ~20 hrs/month for hourly clients (3-4 visits/week × ~1.5 hrs); overnight and live-in modelled separately.
- Blended revenue mix: 70% hourly, 20% overnight, 10% live-in by revenue (live-in skews revenue heavily; mix may shift over time).
- Hourly rate: £19/hr; £100/night overnight; £950/week live-in.
- Carer COGS: London Living Wage (~£10.55/hr at time of deck) + ~20% employer NI/pension = ~£12.70/hr direct cost. Gross margin on hourly care ~33% at £19 rate.
- Carer:client ratio: 1 carer covers ~5–6 active hourly clients (part-time employed model).
- Carer churn / attrition: 20% annual (target significantly below industry 40% due to LLW and better tools).
- Platform cost (tech/hosting): low fixed cost, scale as % of revenue (~3–5%).
- CAC: £150–£300 per acquired client (no data; home care typically referral + digital ads).
- Churn (client): 5–8% monthly (care relationships can be long but end-of-life events drive turnover).
- Gross margin target: 30–40% (labour-heavy services; benchmark against UK domiciliary care agencies).
- Opex: Tech/product team, ops, sales/marketing - seed-stage headcount of ~10–15 FTE in Year 1 growing to 30+ by Year 3.
- Scenarios (Base / Bull / Bear - which variables flex):
- Base: 10% MoM client growth, blended GM ~33%, carer churn 20%.
- Bull: 15% MoM growth (digital marketing scales), live-in mix increases (higher ASP), platform licensing revenue to third-party agencies introduced in Year 3.
- Bear: 5% MoM growth, carer wage pressure (National Living Wage rises), client acquisition costs higher than assumed, longer sales cycle.
- Required sheets / outputs:
- Assumptions dashboard (all drivers in one place)
- Revenue build (client cohorts × hours × rate, by SKU: hourly / overnight / live-in)
- Carer headcount & payroll model (direct COGS)
- P&L (monthly Year 1–2, annual Year 3): Revenue, COGS, Gross Profit, Opex by function, EBITDA
- Cash flow & runway (burn rate vs. funding)
- KPI summary: MRR, care hours delivered, active clients, carers employed, gross margin %
- Scenario toggle (Base / Bull / Bear)
Frequently asked
Is the Lifted financial model free?+
Yes. The Lifted model is a free Excel (.xlsx) download with live formulas. Sign up with your email and the workbook is yours to keep, review, and edit.
What's included in the model?+
A 5-year monthly forecast with P&L, cash flow and runway, valuation (exit multiple plus a DCF cross-check), MOIC/IRR returns, and unit economics, with live formulas throughout.
How was this model built?+
It was built from Lifted's pitch deck and publicly available information, then structured to investment-banking standards as a fully editable Excel model.
Can I change the assumptions?+
Yes. You can change assumptions and the live formulas will recalculate in the downloadable Excel model.
Have more financial modelling questions? Contact us
Created by ex-finance professionals
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