California-based True Link Financial has scored $8m in its Series A equity round led by QED Investors.
Additional support to the round came from Radicle Impact and Initialized Capital.
True Link is a financial support solution for retirement, offering money management, investment and insurance products. The platform offers a robo-advisor to offer financial advice and a debit card, which help with budgeting and anti-fraud systems.
The system helps to advise the elderly on a personalised investment plan, creating a diverse portfolio to help support finance in later life.
As part of the transaction, QED founding partner Frank Rotman will join the companyâ€™s board of directors.
QED founding partner Frank Rotman said, â€œIn todayâ€™s crowded market, itâ€™s important to build a business thatâ€™s the absolute best at something. When we saw True Link it became clear that they are delivering on their vision to offer the best financial products and services to the Retired community. This segment is rapidly growing, and it requires customization that most firms donâ€™t or canâ€™t offer.â€
This latest injection of capital brings total funding raised by True Link to $15.8m, with the company bagging a $3.6m investment last year. The previous backing saw commitments from Kapor Capital, Initialized Capital, Symmetrical Ventures and Ziegler Link-Age Longevity Fund.
Last month QED led the $5.3m funding into invoicing solution YayPay, to help the company with staff hiring and product development.
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