Back by popular demand is our “VC Deal of the Day”. Today we’re reporting that hybrid robo-advisor True Link Financial has raised an $8M Series A round led by QED Investors, whose founding partner, Frank Rotman, will be joining the True Link Board as well.
We’ve learned that robo-advisors don’t like to be called robo-advisors anymore. This specific model is positioned to the senior retirement planning market, and the model is perfect for that because it integrates a free online planning tool with a live advisor, so technically it’s a hybrid robo-advisor model.
According to the Crunchbase listing: “True Link is a diversified financial services firm dedicated to protecting and increasing our customers’ independence and quality of life. We offer a range of payments, investment, and insurance products, primarily for retirees.
They also offer a Visa pre-paid debit card on the site, stating “Guardians, fiduciaries, and trustees are turning to the True Link Card for a better way to manage and protect clients’ finances.”
They’ve also published a 2015 report on Financial Elder Abuse and another report on Pooled Special Needs Trusts worth checking out.
Their full suite of offerings includes investment services for retirees, persons with disabilities, pooled trusts, trusts and the (debit) card division. Very interesting model and obviously the VC community agrees.
Number of Funding Rounds: 5
Total Funding: $15,000,000
Most Recent Series A Round: $8,000,000