San Francisco, CA (PRWEB) January 21, 2015
True Link Financial, which provides anti-fraud and scam protection services for caregivers of aging adults, announced today it has closed a $3.4 million seed round, led by Cambia Health Solutions. Additional investors in the round include Kapor Capital, Collaborative Fund, and Generator Ventures.
According to True Link CEO Kai Stinchcombe, the additional funding will help the company grow its customer base and continue to invest in its fraud protection algorithms and core technology.
Backed by Y Combinator and launched in 2013 by Stinchcombe and co-founder Claire McDonnell, True Link provides a service that protects vulnerable seniors from scams, fraud, and financial exploitation by providing them with a safe form of payment to make daily purchases. True Link offers a customizable Visa card designed for family caregivers to safeguard the finances of their aging loved ones. The family can set up the card so it always works when Mom’s out to lunch with friends, shopping at the mall, or donating to her favorite charity, while making sure she doesn’t lose money to pushy telemarketers, unwanted mail solicitations or sweepstakes scams.
“True Link Financial is exactly the kind of innovative company within the digital health and wellness space we seeking to support,” said Rob Coppedge, senior vice president of strategic investment and corporate development at Cambia Healthcare Solutions. “They have created an effective solution to one of the most pressing problems today faced by the millions of baby boomer adults caring for their elderly parents – and that’s a population that will only continue to grow.”
About True Link
True Link protects vulnerable seniors from scams, fraud, and financial exploitation by providing them with a safe form of payment to make daily purchases. Family caregivers use True Link's service to monitor their loved ones' spending and prevent unwanted purchases from pushy telemarketers, predatory mail solicitations, sweepstakes scams, or other unscrupulous merchants. The company is based in San Francisco, California. Learn more at http://www.TrueLinkFinancial.com.
About Cambia Health Solutions
Cambia Health Solutions, headquartered in Portland, Oregon, is a health solutions company dedicated to transforming health care by creating a person-focused and economically sustainable system. Cambia’s growing family of companies range from software and mobile applications, health care marketplaces, non-traditional health care delivery models, health insurance, life insurance, pharmacy benefit management, wellness and overall consumer engagement. Through bold thinking and innovative technology, Cambia is delivering solutions that make quality health care more available, affordable and personally relevant for everyone. To learn more, visit cambiahealth.com or twitter.com/cambia.