YieldStreet, a New York-based digital wealth management platform, raised $62m in financing.
The round was led by Edison Partners.
The company will use the funds to introduce new investment offerings, expand investor access, and increase retail investor education and engagement.
Led by Michael Weisz, founder and President, and Milind Mehere, founder and CEO, YieldStreet provides a digital wealth management platform that allows its community to build a diversified portfolio of investments outside of the stock market and generate passive income. Investors get access to asset classes such as Real Estate, Marine, Legal Finance & Commercial loans.
The company, which also has offices in Brazil, Argentina and Greece, has created a community of more than 100,000 members who have invested more than $600 million through its platform, with a 12% IRR for their investors to date.
YieldStreet is backed with $178M in capital from Edison Partners, Greycroft, & Raine Ventures.