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Fintech Nexus E-newsletter (December 1, 2023): Fintech consolidation continues: Yieldstreet buying Cadre

Whereas it’s not but a wave, fintech consolidation is beginning to choose up. And yesterday we discovered of one other deal, this one within the investing house.

Whereas this deal was telegraphed a couple of months in the past there was an official announcement yesterday. Main funding fintech Yieldstreet is buying the actual property platform Cadre. 

Phrases of the deal weren’t disclosed however we had heard that Cadre was struggling to boost cash this 12 months so one can assume the acquisition value was far lower than their peak valuation from 2017 of $800 million.

Yieldstreet has constructed one of many largest personal funding platforms in all of fintech with round $4 billion invested on its platform throughout quite a lot of asset courses together with actual property. Cadre is targeted solely on business actual property. Each corporations permit people in addition to establishments to speculate on their platforms.

Given Cadre’s singular give attention to actual property and with rates of interest at mulit-decade highs the going should not have been straightforward. Now, Yieldstreet is bringing in tens of hundreds of latest buyers and increasing their actual property choices immediately.

CEO and co-founder Michael Weisz was clearly excited: “What this transaction does for the trade is clearly outline a market chief by an element of 5,” Weisz mentioned.

Yieldstreet to accumulate actual property tech startup Cadre

The 2 CEOs outlined their plans for the mixed firm—which may have a collective funding worth of over $9.7 billion—in a joint interview with Fortune.

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  • Peter Renton

    Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media firm centered on fintech. Peter has been writing about fintech since 2010 and he’s the writer and creator of the Fintech One-on-One Podcast, the primary and longest-running fintech interview sequence.

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