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Philadelphia-based startup Yieldeasy has successfully raised $1 million in its recent funding round, as confirmed by co-founder Jeff Gopshtein. Over the past seven months, Yieldeasy has undergone a strategic pivot, transitioning from a platform specializing in buying apartment buildings to becoming a trailblazer in the real estate investment marketplace.
Since the launch of its new platform in late August, the company has attracted 300 users, with a total investment of $70,000 from customers, signaling a positive reception to their revamped approach. This funding round, the first since Yieldeasy’s strategic shift, aimed for $1.5 million, ultimately surpassing expectations with a total of slightly over $1 million. Somersault Ventures led the investment, with additional contributions from strategic real estate angel investors.
Gopshtein emphasized the success of Yieldeasy’s ability to attract users during the fundraising process, showcasing the market’s confidence in their vision despite limited resources. The funds raised will be instrumental in expanding the team, focusing on hiring individuals to manage investor relations, sales, and bolstering online presence through marketing and social media initiatives.
Yieldeasy’s mission is to democratize real estate investment by providing a digital platform for investing in property loans, offering an attractive option for those seeking to diversify their portfolios or gain exposure to real estate in a previously inaccessible manner. Looking ahead, Gopshtein envisions expanding the investor pool and exploring opportunities to purchase loans, solidifying Yieldeasy’s position as a disruptor in the real estate investment landscape.
By Proptechbuzz
By Ravi Kumar
