附近上门

Digital investing platform has raised $100 million in a Series C round led by , the company said Wednesday.

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Yieldstreet lets users invest in alternative assets such as portfolios of single-family homes or portfolios backed by art assets. The idea behind the company is that the traditional 60/40 rule of investing 60 percent of one鈥檚 assets in stocks and 40 percent in bonds isn鈥檛 diverse enough, and that more than the ultra wealthy should have access to alternative investments.

鈥淭he reason this problem is so important is that access to and distribution of alternatives is fundamentally broken, and that鈥檚 adding to the income opportunity gap we talk about,鈥� CEO said in an interview with 附近上门 News.

While Yieldstreet was founded six years ago, Mehere had the idea for it around 12 years ago during the financial crisis. Mehere moved to the United States as a student, found success as a professional, and followed the 60/40 rule for investing. So when the global financial crisis hit and his portfolio was down, he found himself a bit angry at Wall Street.

鈥淚 had done everything right of what I was told as a consumer 鈥� and I was left holding the bag,鈥� he said.

The New York-based company aims to help modernize users鈥� portfolios to complement their stock market portfolio, Mehere said. Tarsadia Investments President Mitch Caplan echoed the sentiment in a statement, adding that听 鈥渁lternatives are not optional, but needed for every portfolio.鈥�

鈥淚n today鈥檚 time, it鈥檚 even more important (to invest in alternatives),鈥� Mehere said. 鈥淚f you think about it, the stock market is at an all-time high, but if you look at the last 18 months, the market is so volatile.鈥�

The funding will be used to double down on growth, including expanding Yieldstreet鈥檚 user base and its products. The company will be pursuing strategic acquisitions, with going public as part of its plan in the next 12 to 24 months, Mehere said. The company has about 300,000 users on its platform, with its investment requests up 250 percent year over year (year to date).听

Yieldstreet last raised money with a $62 million in February 2019. Other participants in the Series C round include , , , , , , , and 听

Illustration: Dom Guzman