This Fintech’s Visa Card Keeps Grandpa From Blowing His Nest Egg

Introducing True Link Financial: A Financial Lifeline for Vulnerable Individuals
True Link Financial offers a unique debit card designed specifically for individuals with dementia, cognitive impairments, or addiction issues. This innovative solution provides a sense of independence while ensuring financial safety. The card allows trusted administrators, such as family members or caregivers, to monitor transactions and set spending controls, preventing unauthorized purchases or fraudulent activities. For Alana Peralez, whose 84-year-old father experienced mobility issues and cognitive decline after a stroke, this card became a vital tool. It gave her father the freedom to manage some of his expenses while protecting him from scams and financial exploitation. True Link Financial’s debit card is part of a broader mission to address the financial vulnerabilities of those who need extra support.

The company, based in San Francisco, has grown significantly since its founding in 2012. It was recently named to the Forbes Fintech 50 list for 2025, recognizing its profitability and growth. True Link oversees more than 150,000 debit cards and manages nearly $1.5 billion in special needs trusts, which are designed to provide extra support for individuals with disabilities without jeopardizing their eligibility for government benefits like Medicaid or Supplemental Security Income (SSI). The company charges a $12 monthly fee for its debit card and a 1% management fee for trusts, which are invested in low-cost ETFs. True Link’s success stems from its ability to balance financial oversight with user autonomy, addressing a critical gap in the market.

The Problem of Financial Vulnerability: A Growing Concern
Financial exploitation and cognitive decline are pressing issues, especially as the U.S. population ages. Approximately seven million Americans live with Alzheimer’s, the most common form of dementia, and this number is expected to rise as Baby Boomers grow older. Even before a formal diagnosis, individuals often show signs of declining financial judgment, leading to significant wealth loss. A 2023 study revealed that in the eight years preceding a dementia diagnosis, the median wealth of affected individuals dropped to less than half that of their peers.
True Link Financial’s CEO, Kai Stinchcombe, was inspired to create the debit card after witnessing his grandmother’s struggles with Alzheimer’s. She became vulnerable to charitable solicitations and scam offers, leading to financial losses and family concern. When Stinchcombe approached her bank for help, he was met with a stark response: either she was mentally competent and responsible for her actions or legally incompetent and unable to manage her finances. This binary approach highlighted the need for a solution that balanced oversight with independence.

A Personal Solution with Broad Appeal
The True Link debit card is designed to be a flexible tool for families and caregivers. It allows administrators to set spending limits, block suspicious transactions, and monitor purchases in real-time. For example, families can restrict purchases from-known fraudulent entities or limit monthly contributions to charities. The card is funded with discrete deposits, meaning it doesn’t require a financial power of attorney, and both the cardholder and administrator must consent to the arrangement. This approach respects the cardholder’s autonomy while providing an added layer of protection.
One user, a 56-year-old television writer, turned to True Link after discovering his father had embezzled funds from his sister’s special needs trust. With True Link, he transfers a set amount to his sister’s debit card each week, ensuring she can manage her expenses without falling prey to exploitation. The card has also helped her develop financial responsibility over time. Stories like these illustrate the transformative impact of True Link’s solution for families navigating complex financial and caregiving challenges.

Building a Business with Purpose and Profitability
True Link Financial’s journey to success was not without its challenges. Initially, the company struggled to attract investors, as many were skeptical about the profitability of addressing such a niche market. However, with the support of early backers like Khosla Ventures and QED Investors, True Link persevered. By focusing on word-of-mouth referrals and partnerships with geriatric care managers, the company slowly built a loyal customer base.
In 2017, True Link achieved positive cash flow, and by 2024, it reported $30 million in revenue and $2 million in net profit. The company’s success has allowed it to fund its growth internally, with cofounders Kai Stinchcombe and Claire McDonnell retaining about 30% ownership. True Link’s debit card business accounts for two-thirds of its revenue, while the remaining third comes from managing special needs trusts. The company’s expertise in trust management and its user-friendly debit card have established it as a leader in fintech for vulnerable populations.

A Future Focused on Expansion and Education
Looking ahead, True Link aims to expand its reach by selling its debit card as a white-label product to banks. Stinchcombe believes that by partnering with financial institutions, the company can bring its solution to a wider audience. At the same time, True Link is committed to raising awareness about the financial risks faced by aging and vulnerable populations.
Despite its success, True Link has faced setbacks, including a 2022 SEC settlement related to its management of pooled special needs trusts. The company has since strengthened its oversight and now takes a more rigid approach to ensuring compliance. These lessons have positioned True Link as a trusted authority in its field. By combining innovative technology with a deep understanding of its customers’ needs, True Link Financial is paving the way for a more inclusive and supportive financial system.