Mason Finance, a life settlement technology startup, says it has received licenses to perform life settlements in five more states: Arizona, North Carolina, Pennsylvania, Tennessee and California.
The San Francisco-based company now has the licenses it needs to operate in a total of 12 states and in the District of Columbia.
The company has also received more financing, through a deal managed by DCM Ventures, a venture capital firm with offices in Menlo Park, California, and in Beijing. Other participants in the new round of financing include Kleiner Perkins, CFSI Financial Solutions Lab, Village Global, Core Innovation Capital, Abstract, and several angel investors.
Mason Finance offers consumers help with life settlements and viatical settlements. It also offers a retirement calculator and a life settlement calculator on its website.
David Chao, a general partner at DCM, said in a statement that the firm invested in Mason Financial because it believes that company is doing a good job of serving baby boomers and recent retirees.
"A critical mass of seniors are now online, on smartphones and Facebook looking to engage with new financial products in a fundamentally different way than prior generations," Chao said. "We believe traditional financial services incumbents are not adopting fast enough for this generation, and we see a lot of opportunity for Mason Finance as a result."
Here are two other recent life settlement sector announcements:
LiST
Barclays and Techstars have accepted LiST Settlements, a life settlement blockchain technology company, into the 2018 Tel Aviv Barclays Accelerator program.
