Feb. 26, 2019
YieldStreet, a digital wealth management platform for alternative investments, has raised $62 million in Series B equity finance led by Edison Partners, according to a press release.
The New York-based company said that additional investors included Greenspring Associates, along with existing investor Raine Ventures and a multibillion-dollar family entity.
YieldStreet plans to use proceeds from the funding round to scale originations, recruit new talent, expand offerings to new investments and pursue strategic acquisitions.
Chris Sugden, managing partner at Edison, said that YieldStreet is giving investors the chance to provide real opportunities to create additional wealth in a way that is more affordable and more accessible.
"The are building a multiproduct platform that brings a new level of investing inclusion to those looking to build wealth and save for the future," he said in the announcement.
The platform offers a range of alternative investments, including marine and shipping, real estate, legal finance and commercial loans. The company recently launched the YieldStreet Wallet, an FDIC-insured savings product that provides 2.2 percent yield with no minimum balance or fees.
YieldStreet has grown into a community of 100,000 customers who have invested more than $600 million. The company has generated more than $50 million in interest for these clients, the press release said.
Topics: Financial News, Mobile Apps, Mobile Banking
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