Golden Gateway Financial, an Oakland, Calif.-based firm that offers reverse mortgages tailored to senior citizens, has raised around $5 million in additional Series A funding led by Menlo Ventures. Menlo previously led a $6 million series earlier in the round according to peHUB.
A company spokesman told RMD that the additional funds raised will be used for “general expansion”. Golden Gateway recently ventured into the life settlement business and is taking the same approach as it does in the reverse mortgage business. By using its calculator, customers looking to sell their life insurance policy can get free estimates on what the policy may be worth.
Congrats to Eric and everyone at GG on raising another round of financing.