True Link, fintech for older adults, scores $35M Series B for expansion

True Link, a financial platform for older adults, confirmed a $35 million Series B fund raise, resources the company says will help it move into new product categories.

Why should we care?
As the market for millennial and Gen Z-oriented banking platforms gets competitive, a growing number of fintechs, including True Link, are serving older adults. Truelink, which partners with Sunrise Banks, offers its customers prepaid Visa cards, along with investment management and advisory services. It lets customers track expenses and easily permit caregivers to make purchases on their behalf. Other fintechs serving older adults include Golden and EverSafe, but since seniors hold considerable wealth in comparison to other generations, there is room for more players. True Link says it will use the new funding to add more products, including life insurance and additional credit offerings. The funding, led by Khosla Ventures, with participation from Centana Growth Partners, comes after a $21M Series B fund raise 14 months ago.