True Link
| Company type | Private |
|---|---|
| Industry | Financial technology |
| Founded | November 2012 |
| Founder | Kai Stinchcombe, Claire McDonnell |
| Headquarters | San Francisco , United States |
| Products | Investment accounts, Visa prepaid cards |
| Website | truelinkfinancial |
True Link Financial, Inc. is a financial technology company headquartered in San Francisco that specializes in providing investment accounts and prepaid card solutions designed specifically for seniors, individuals with disabilities, and those undergoing addiction recovery. Its investors include notable entities such as Y Combinator, Khosla Ventures, QED Investors, along with prominent figures like Mitch Kapor, Alexis Ohanian, Eric Ries, Initialized Capital, Matt Cutts, and Centana Growth Partners.
Financial solutions for seniors experiencing memory impairment
True Link provides a Visa prepaid card equipped with features aimed at preventing fraud and combatting Elder financial abuse among older adults. The company’s fraud detection technology allows users to tailor restrictions, such as blocking telemarketing charges, limiting donations to certain charities, controlling ATM withdrawals, and receiving notifications on transactions.
Founded in November 2012 by CEO Kai Stinchcombe and Claire McDonnell, the company was inspired by Stinchcombe’s grandmother’s financial losses due to telemarketing scams. Officially launched in August 2013, True Link targets a demographic where annually 14% of seniors endure fraud, with over half being targeted in some capacity. Financial institutions have expressed interest in collaborating to enhance customer protection.
True Link estimates the annual cost of elder fraud at $36.5 billion. Its proprietary fraud prevention system is built upon an extensive database cataloging scams and suspicious merchants. The company’s data science team is widely regarded as an expert authority on senior-targeted fraudulent activities.
Customized offerings for individuals with disabilities or special requirements
The firm delivers financial products tailored to the needs of people with disabilities, including collaborations with ABLE account programs, special needs trusts, pooled trusts, and representative payee arrangements. True Link’s cards are currently utilized by ABLE initiatives in twelve states and are cited within the Social Security Administration’s operations manual concerning disbursements from special needs trusts.
Investment approaches incorporate techniques such as bond laddering to reduce exposure to interest rate fluctuations and employ a time-segmented strategy often described as "a lifetime income strategy." Portfolio allocations adhere to principles of Modern portfolio theory, blending investments in stocks, bonds, and occasionally integrating an annuity element.
Support services for individuals recovering from addiction
True Link offers specialized payment cards designed to assist those recovering from addiction in managing their finances while minimizing the risk of relapse. Studies reveal that 80% of recovering individuals consider regaining financial control a significant hurdle, and 77% of adults with family members affected by substance abuse express concern that unrestricted cash access could prompt relapse.
In August 2016, True Link expanded its presence in the addiction recovery sector through the acquisition of Next Step Network, LLC. With roughly 2.5 million people receiving treatment annually at addiction care centers, this represents a substantial potential market.