True Link Financial, a U.S.-based fintech that is focused on financial services among senior citizens, people with disabilities, and recovered addicts, announced on Tuesday it secured $35 million through its Series B funding round, which was led by Khosla Ventures and Centana Growth Partners.
Founded in 2012, True Link stated its mission is to increase the independence and well-being of vulnerable older adults, people with disabilities, and those recovering from addiction.
“All of True Link’s customers face risks that undermine their autonomy and turn to True Link to meet needs that are underserved by traditional financial institutions. Its specialized payments and investment product offerings are designed to empower its end users, as well as their loved ones and professional caregivers. The company receives nearly five million customer calls per year with a 97 percent “great” rating for customer support.”
True Link also claims that its expertise, “obsessive service,” and distribution channels help families keep their loved ones safe.
“We manage millions of dollars a day in transactions and provide investment services for thousands of people. Our team handles 2.5 million calls a year with a 98% ‘excellent’ satisfaction rating.”
Speaking about the investment, Co-Founder and COO of True Link, Claire McDonnell, stated:
“Amidst a global pandemic that has exposed how financially vulnerable so many people are, our customers need us more than ever before. Both Centana and Khosla are partners who genuinely understand and believe in our purpose and their support will help us realize our vision.”
Funds from the Series B investment round will go towards the growth and development of the True Link platform.