YieldStreet, an online marketplace for a diverse array of asset-backed investments, announced on Wednesday it has formed a new partnership with Citi to access investment opportunities across private credit markets, which includes Real Estate, Aviation, Shipping, Telecommunications, as well as other structured credit products.
YieldStreet reported that the additional scale access will allow it to respond to the demand it is seeing from the individual investors community for access to its products. Milind Mehere, CEO of YieldStreet, spoke about the partnership by stating the following:
“YieldStreet is thrilled to continue our focus on first-to-market products, enabling our investor community to access institutional assets across the yield spectrum. We are excited and honored to work with the best-in-class team at Citi, and to create a new opportunity for YieldStreet, our investors, and our partners.”
Citi is backing the partnership through its Spread Product Investment Technologies (SPRINT) unit, within the Citi Markets Fintech Investment program. Matt Zhang, Managing Director and Head of SPRINT at Citi, also commented:
“We have always regarded YieldStreet as an innovative platform in the market, bringing institutional-style investments to a broad audience. We’re really excited to partner with the YieldStreet team and believe there is a tremendous opportunity for us to scale our relationship together.”
Michael Weisz, President of YieldStreet, then noted:
“Our partnership with Citi, yet again, reflects the ongoing paradigm shift in the financial services sector, highlighting the value YieldStreet offers to investors and originators alike. Together, we will further enable YieldStreet investors to build diversified portfolios beyond the traditional composition of cash, stocks, and bonds,” said
YieldStreet went on to add that since its launch in 2015, it has originated more than $1.2 billion of investment opportunities. Last year, YieldStreet closed a $62 million Series B financing round, with investment from Edison Partners, Greenspring Associates and Soros Fund Management LLC.