JustParent

JustParent is a UK-based startup that offers a unique solution for small and medium-sized enterprises (SMEs) to provide parental leave pay benefits to their employees, backed by insurance. Founded in 2022, the company aims to establish a fairer standard for new parent leave pay in the UK, targeting businesses with a minimum of 25 employees. JustParent operates as insurance for businesses, enabling them to afford enhanced parental leave pay for their staff. The company commits to pay 100% of the basic salary of staff parental leave pay above the policy excess, providing flexibility for businesses to decide the duration of paid leave offered to their employees, ranging from 6 to 30 weeks paternity or 12 to 30 weeks maternity. Notably, JustParent is a trading style operated by Innovative Risk Labs Ltd, which is authorized and regulated by the Financial Conduct Authority (FCA Registration 609155). The recent Pre Seed Round investment of £1.20M on 07 December 2023 was secured with the participation of prominent investors such as Portfolio Ventures, Notion Capital, Frontline Ventures, Concept Ventures, and Blissgrowth. By addressing the critical need for parental leave benefits through an innovative insurance-backed model, JustParent is poised for growth and potential impact within the Insurance and SaaS industries.