FinTech company YIELD app revealed a twofold increase in its assets under management just eight months after its launch, the company’s Q3 report revealed on Wednesday. The company has also struck a high-profile partnership with Premier League football club, West Ham United.
The third quarter of 2021 saw YIELD App’s managed assets rise by more than 100% from $163 million in June 2021 to almost $340 million by September-end.
As per the company’s announcement, the increase in AUM was driven by the launch of its Bitcoin Fund in July, which reached its cap of 500 BTC in just a few days of its first funding round.
YIELD app also saw a hike in its number of corporate and institutional clients, with the company reporting it currently serves over 60 clients, ranging from blockchain companies to traditional investment vehicles to family offices across Europe, Asia, and Australia.
Tim Frost, CEO of YIELD App, said of the Q3 results:
“In the latest quarter alone, we have seen our managed assets more than double and secured an exciting new partnership with West Ham United that places us among the top tier of digital asset wealth platforms.”