YieldStreet Acquires WealthFlex
Summary
YieldStreet, a NYC-based digital wealth management platform, acquired WealthFlex, a digital IRA platform providing investors with access to private investment opportunities through self-directed IRAs. The acquisition expands YieldStreet’s product portfolio to include a tech-forward IRA offering, while providing investors with access to alternative investment opportunities. Joe DiDomenico, founder and CEO of WealthFlex, joined YieldStreet as Director of Retirement Services. Led by Michael Weisz, Founder and President, and Milind Mehere, Founder and CEO, YieldStreet provides a digital wealth management platform allowing investors to access to institutional quality investments for individual investors across a range of asset classes such as Real Estate, Marine Finance, Art Finance, Legal Finance and Commercial Loans. The company, which also has offices in Brazil, Argentina and Greece, is backed with $178M in equity and debt funding from firms including Edison Partners, Greycroft and Raine Ventures.