The incident happened about 2.45am on Thursday on Dundee Street.
Police said a 22-year-old man was walking home when three men approached and pushed him against a wall before demanding money.
The victim handed over a three-figure sum of cash. The suspects then fled from the area.
A investigation has been launched by police, with anyone with information asked to come forward.
The first suspect is described as white, between 5ft 7’ and 5ft 9’ tall. He has a medium build and clean-shaven face and was wearing a dark hooded top with the hood up and white trainers.
The second and third suspects are described only as wearing hooded tops.
Detective Constable Emma Wilkinson, from Corstorphine Police Station, said: “The victim is extremely upset at the theft of his money and was left shaken, though, thankfully, he was not injured.
“We would urge anyone who remembers seeing any suspicious activity in Dundee Street during the early hours of Thursday morning to contact police immediately.
“Similarly, if you believe you can help us identify the suspects then please also get in touch.”
Those with information can contact Corstorphine CID on 101 or Crimestoppers on 0800 555 111.
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