Citi is partnering with YieldStreet, an alternative investment fintech - Business Insider

and digital wealth management to customers beyond Wall Street's big-money investors. It also highlights pushes by larger, more institutionalized financial services firms' pushes to back digital investment platforms.

Citi is backing YieldStreet through a fintech investment unit within the bank, which formed in 2018 and is geared toward startups in the debt and private credit markets. In November, that unit also invested inYieldStreet cofounders Milind Mehere and Michael Weisz.For now, investments offered by YieldStreet, which oversaw some $345 million in assets in November per a regulatory filing, are only accessible to accredited investors who have to prove a level of income, or net worth.

Given the risks that can come with smaller individual investors investing in sophisticated investments, Weisz said YieldStreet aims to educate investors with a team of experts on-hand and digestible educational literature. The company is backed with $178 million in equity and debt funding from firms including Edison Partners, Greycroft, and Raine Ventures, in addition to a warehouse facility from Soros Fund Management. Soros has upped that line of credit from $100 million to up to $250 million, YieldStreet said on Wednesday.

So the rich get richer...🤷🏽‍♀️ How can one pull themselves up by the bootstraps when y’all are wearing Gucci loafers?

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Accenture has revealed the eighth cohort of its FinTech Innovation Lab London - Business InsiderAccenture has welcomed the eighth cohort of its FinTech Innovation Lab London, but not every participant will be successful in the competitive space.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Why Universal Music Group's Investment From Tencent Is Good News for the Music Business: AnalysisTencent's investment in Universal Music Group is further proof the music business is back in business. Here's why
Source: billboard - 🏆 112. / 63 Read more »

Store closures reached a new high in 2019 - Business Insider - Business InsiderWhile 2019 saw a record number of store closures, some retailers are giving stores new value by using them to facilitate e-commerce orders: Retailers can follow Walmart & Target that embraced buy online including pickup in-store offerings for consumers to pick up their orders.
Source: BusinessInsider - 🏆 729. / 51 Read more »