Fintech startup Revenue&, a web based funding platform, introduced it had collected $2.9 million in seed funding and dedicated capital.
Among the many individuals within the funding spherical of the San Francisco-based agency have been iSeed Ventures in addition to quite a few high-profile people from the monetary business.
On its platform, Revenue& will market its funding product PRIMO, a low-risk, high-yield instrument backed by prime mortgages, the corporate mentioned, that shoppers might customise in line with particular person preferences. The yield degree it is going to be concentrating on is as much as 7.5 per cent.
Prime mortgages solely
Commenting on the information, Chief Government Officer Brad Walker mentioned: “We based Revenue& to resolve two issues: the shortage of investments for child boomers to help a cushty retirement, and the absence of transparency within the mortgage market which partially led to the ‘Nice Recession’. Revenue& works with established, name-brand mortgage lenders to onboard high-yield, protected, prime-rated loans to the PRIMO market, that are additional reviewed and rated for an added measure of readability. The expertise Revenue& has developed provides traders unprecedented transparency, management and entry to their custom-made portfolio of PRIMOs.”
Revenue& appears set on filling a spot that exists within the fixed-income funding phase in the mean time, with both yields of merchandise too low or dangers unacceptably excessive. The agency has targeted on discovering the center floor, with a extra acceptable degree of danger and engaging yields.
Initially, the PRIMOs will solely be obtainable for accredited traders or their Registered Funding Advisors.