True Link pulls in $3.6m for retirees financial advice

Digital financial services provider aimed at retirees True Link Financial has raised $3.6m in a new round of funding.

The investment comes from Kapor Capital, Initialized Capital, Symmetrical Ventures and the Ziegler Link-Age Longevity Fund, LP.

The company’s platform is designed to make investment advice available to retirees who are relying on their savings for income over the course of their retirement.

It says it takes a hybrid approach to wealth management in combining human advisors with algorithm-based robo-advisors to create personalised investment plans.

True Link’s products include a debit card known for its budgeting and anti-fraud features, and a set of software tools to create and administer trusts and manage benefits eligibility.

Company CEO and co-founder Kai Stinchcombe said the company aims to make customers, “feel confident that investment decisions are always made in their best interest.

“To ensure our human advisors are as unbiased as our technology, our advisors never get paid through commissions, sell proprietary products, or create conflicts of interest that bias their advice.

“Our broad-based approach is delivered for one simple, transparent fee and designed to earn our customers’ trust – something that so often is missing in the financial services industry.”

The San Francisco-based company will use the funding to expand sales and marketing of its established products and to widely release its financial advisory service, which to date has been in private beta.

The company previously raised two undisclosed seed rounds and was incubated as part of Aging2.0 Generator’s first cohort of startups.

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