Rally Rd. Raises $7MM Series A to Build First Live Investing Ecosystem
NEW YORK--(BUSINESS WIRE)--Sep 27, 2018--Rally Rd., a technology platform that lets anyone invest directly in rare alternative assets, has today announced the launch of a live investing ecosystem where customers can invest in blue chip, classic cars on the spot. The first showroom, being built in New York’s SoHo neighborhood, will display select investments available on the Rally Rd. platform. The company has plans to launch retail showrooms in all key markets where Rally Rd.’s customers are located, with Los Angeles, Houston and Miami following the completion of the New York flagship location.
The analytics driven brick-and-mortar expansion strategy will be supported through investments from Rally Rd.’s Series A. The oversubscribed $7MM round was led by Upfront Ventures with participation from Anthemis Group, Social Leverage, Jeffrey Katzenberg’s & Anthony Saleh’s WndrCo, rapper/entrepreneur Nas, Betterment’s Co-Founder Eli Broverman, and Jeff Cruttenden, co-founder of Acorns and SAY.
“If you want to invest in the best blue-chip collectibles -- like art and classic cars -- you need to travel the world to attend exclusive auctions, and you need very deep pockets. These events are not accessible to or top-of-mind for most Americans,” said Christopher Bruno, Co-Founder and CEO of Rally Rd. “We’re building showrooms in large markets where everyone can go and actually see the collectibles they love and then directly invest in them through our platform.”
“By combining passion and financial liquidity into a large market, Rally Rd. has created a new, accessible and exciting investment category that people enjoy and share while driving returns,” said Greg Bettinelli, partner at Upfront Ventures. “As a result, they are attracting an incredibly diverse range of customers including those completely new to investing, and I can’t wait to see how they continue to engage this huge potential audience.”
The funding will also be used to build experience features in the app to keep up with the overwhelming market demand.
“We wanted to design a platform that’s sleek, user-friendly and democratizes rare asset investing,” said Rob Petrozzo, Co-Founder of Rally Rd.
Each asset on Rally Rd. is made available to investors via an SEC-registered stock offering with a minimum investment of just one share, which typically starts around $50. After the initial offering ends Rally Rd. holds regular trading windows for each asset where users can buy/sell shares in a secondary marketplace, all within the app through registered broker-dealers. In less than a year the company’s user base has grown to 50,000 members with millions invested among a dozen offerings. The majority of Rally Rd.’s investors are first-time alternative asset investors with an average age of 26.
Recent assets featured on the investment platform include Jerry Seinfeld’s ’89 Porsche 911 Speedster and a 1980 one-of-two prototype Lamborghini Countach Turbo, thought to be lost forever but now being offered for $127 per share on Rally Rd. By allowing anyone to invest in an asset class that has shown 300%+ returns over the last decade, Rally Rd. is democratizing alternative asset investing and providing access, liquidity, and transparency to markets that have traditionally been available to only a select few.
The company plans to expand into other vertices in early 2019, including high-end sports memorabilia and art. The Rally Rd. app is now easily available for iPhone or Web (desktop & all mobile platforms) at https://rallyrd.com.
ABOUT RALLY RD.
Rally Rd. is a first-of-its-kind platform where unique, high-value assets are securitized, split into shares, then offered as equity investments to users of all income levels. The mission: to democratize alternative asset investing by providing access, liquidity, and transparency to markets that have traditionally only been available to a select few. Rally Rd. completed the first ever initial offering for a vehicle in 2017. The Rally Rd. app is now easily available for iPhone or Web (desktop & all mobile platforms) at https://rallyrd.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180927005642/en/
CONTACT: For Rally Rd.
Jessica Schaefer, 585-233-0321
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: ENTERTAINMENT ARTS/MUSEUMS TECHNOLOGY LUXURY INTERNET SOFTWARE CELEBRITY MOBILE/WIRELESS AUTOMOTIVE PROFESSIONAL SERVICES BANKING FINANCE PERFORMANCE & SPECIAL INTEREST OTHER PROFESSIONAL SERVICES RETAIL
SOURCE: Rally Rd.
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PUB: 09/27/2018 11:12 AM/DISC: 09/27/2018 11:12 AM