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New York based loan crowdfunding platform YieldStreet has raised a $12.8m funding round led by Greycroft and Raine Ventures, as well as an additional $100m debt financing from an undisclosed family office.
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The three-year-old company specializes in loans to real-estate projects, small businesses and law firms. It pitches the assets as an alternative to stocks and bonds. YieldStreet competes with similar products offered by private-equity firms and hopes to eventually offer them to anyone. “We’re trying to provide retail investors this type of product, and ultimately our goal is to reach as many as possible,” said Milind Mehere, the chief executive officer. “We hope to expand this to everyone sometime later this year.”
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