New York-based alternative investing app Yieldstreet has raised $100 million in a Series C funding round.

The FinTech’s platform allows users to make “alternative investments” in assets like real estate, shipping, legal finance, and commercial loans that are generally associated with institutional investors.

Yieldstreet said the capital will be used to increase its user base, develop new investment products, expand internationally, and make strategic acquisitions.

The round was led by Tarsadia Investments, with Kingfisher Capital, Top Tier Capital Partners, and Gaingels also participating in the round.

Existing backers Edison Partners, Soros Fund Management, Greenspring Associates, Raine Ventures, Greycroft, and Expansion Capital also joined the round.

This brings Yieldstreet’s total funding raised to date to $278.5 million.

Founded in 2015, Yieldstreet reports it has provided nearly $950 million in payments to its 300,000 investors.

Yieldstreet said it is eventually aiming for a userbase of 50 million investors.

The company has also been active in the acquisition space and acquired Athena Art Finance and digital retirement investing company WealthFlex in 2019.

"It’s a new world—a mobile-first digital one—so we’ve created a platform to eliminate the built-in friction points to better connect with consumers wherever they are, help educate and provide access to investments to fuel their life goals,” said Milind Mehere, chief executive at Yieldstreet.

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