YieldStreet Yields $62 Million Investment

NEW YORK – YieldStreet, the digital wealth management platform that offers access to alternative investments typically only available to institutions, has closed $62 million of Series B equity financing. The round was led by Edison Partners, with participation from Greenspring Associates, and existing investors Raine Ventures and a large multi-billion dollar NY family office.

The company will use the new investment to expand its product offerings and audience to a broader set of retail investors, scale origination, recruit top-tier talent, and pursue strategic acquisitions.

YieldStreet lets customers participate in a wide range of alternative investments across multiple asset classes including real estate, marine & shipping, legal finance, and commercial loans. Since inception, YieldStreet has generated an expected 12% internal rate of return (IRR).

“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,” said Chris Sugden, Managing Partner, Edison Partners, who will join YieldStreet’s board. “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.”

Over the past three years, YieldStreet has taken an investor-first approach, growing a community of over 100,000 that have invested more than $600 million on the platform. YieldStreet’s success has resulted in more than $50 million of interest generated for its highly engaged customer base. Most offerings released on the platform are fully subscribed in a matter of seconds.

“We are energized every day to provide access to investment products that put our customers on a path towards financial security and independence. This fundraising round validates our vision of defining a new market as a leader in this category and will allow us to make a huge impact for millions of consumers,” says founder and CEO Milind Mehere.

Additionally, YieldStreet recently introduced an FDIC-insured savings account, The YieldStreet Wallet held at a federally chartered bank, inviting accredited and retail investors to earn 2.2% annually on idle cash with no fees or minimums.