Financial Software - Sunday, September 16, 2007
Golden Gateway Financial Raises First Round

Unless you are age 62 or nearing it you may not know what is a reverse mortgage. In short, its a tool for old-timers to get paid monthly sums from the mortgage banker. Emeryville, CA-based Golden Gateway Financial just closed $6M in Series A funding led by Menlo Ventures, says PEHub
Golden Gateway was founded by CEO Eric Bachman who was CEO of Pay By Touch Payment Solutions, which raised some big VC rounds.
While the reverse mortgage sounds appealing, it's not 100% clear why the industry needs a standalone company to do nothing but reverse mortgages. Golden Gateway is just getting underway and doesn't seem to have its marketing act together yet so we'll have to wait to see what they have in mind.
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