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February 28, 2019

Digital wealth manager YieldStreet secures $62m funding

YieldStreet, an alternative investment platform based in New York, has raised $62m in a Series B equity funding round led by growth equity firm Edison Partners.

Edison managing partner Chris Sugden will now become part of the YieldStreet board.

Commenting on the move, Sugden noted: “True wealth creation opportunities have been either too expensive or off limits for most investors. YieldStreet is going after this market in a way the best innovators do.

“They are building a multi-product platform that brings a new level of investing inclusion to those looking to build wealth and save for their future.

“The impressive and highly capital efficient revenue growth, paired with a proven product-market fit and strong founding team compelled us to become a part of expanding this movement.”

In the fundraising, Edison was joined by Greenspring Associates, along with existing backers Raine Ventures and a large unnamed multi-billion dollar family office.

With the new capital, the firm aims to expand its product line-up, increase headcount and make acquisitions.

YieldStreet offers investors exposure to various asset classes including real estate, marine finance, legal finance and commercial loans.

In addition to its New York base, the firm has offices in Brazil, Argentina and Greece.

Currently, YieldStreet has a client base of more than 100,000 and over $600m invested on its platform.

 

 

 

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