YieldStreet, a NYC-based specialty finance and alternative lending platform, raised $3.7m in seed funding.
Backers included Expansion Venture Capital, Saturn Venture Partners and other angel investors.
The company will use the funds to expand operations.
Founded in 2015 by CEO Milind Mehere and President Michael Weisz, and Dennis Shields, YieldStreet provides a tech enabled specialty finance and alternative lending platform connecting accredited investors to asset based investments such as loans secured by real estate portfolios, litigation finance investments or a loan to an NBA player secured by his contract.
Investments have low minimums starting at $5K with average target yields in the mid-teens.
In its first year in stealth mode, YieldStreet has been used by a wide range of accredited investors ranging from small individuals to large family offices, completing 20 investments and having funded $35m in loans.