$17M investment helps to unlock the collectibles market and continue to develop Rally’s platform
NEW YORK--(BUSINESS WIRE)--Rally, the creators of fractional alternative investing that enables anyone to invest in rare and one-of-a-kind collectibles for as little as $1 per share, today announced a $17M financing round that closed earlier this Summer. The oversubscribed round includes repeat investor Upfront Ventures, as well as new investors such as Porsche Ventures, Jim Pallotta’s Raptor Group, Global Brain, Relay Ventures and Alexis Ohanian. The company has raised $27M in equity capital to date.
With these new funds, Rally plans to add new partnership programs to unlock exclusive sources of supply, continue building a best-in-class investment platform, and expand its compliance and technical capabilities.
Rally now boasts over 200,000 users on the platform and transaction volume has grown 195% in the last year, as the platform has grown from a single asset category to ten categories: Sports Cards and Memorabilia, Trading Cards, Comic Books, Video Games, Rare Books, Wine, Vintage Watches, Handbags and Collector Cars.
The company continues to source one-of-a-kind assets in new and existing categories. This month, the platform will be offering two pieces of sports history spanning nearly 100 years: an original 1937 Heisman Trophy worth $460,000 and a Mike Trout Rookie Autograph Card worth $225,000, of which a variant recently sold for $3.9 million earlier this year. Both items will be available to investors for less than $50 per share.
“I’ve been investing in collectibles on Rally for nearly two years. It’s the first platform that has made investing in my passions as easy as buying/selling stock,” said Alexis Ohanian, co-founder of Reddit and Initialized Capital. “I’m excited to now also be an investor in the company, and am looking forward to watching Rally continue to grow.”
Launched in 2017, Rally was the first to offer fractional investment opportunities in the alternatives market, unlocking access to collectible assets. The company, even during a global pandemic, continues to provide many exciting opportunities to invest in collectibles and other alternative investments, having conducted more than 120 offerings to date.
“We’ve spent the last year unlocking the collectibles space and giving our members access to truly one-of-a-kind items for the first time,” said Rob Petrozzo, co-founder of Rally. “With the investment, we’re doubling down on additional asset classes as well as expanding beyond the things you can see, touch and feel, including intangible assets that have never before been available to most investors,” he said.
With this new financing, Rally attracted George Leimer, technology veteran from Disney/ESPN, Apple & eBay, to join the management team as CEO. “We’ve been waiting for the right time, and the perfect candidate, to add a world-class senior executive to the management team. Rally has achieved an inflection point in terms of mass adoption, and George brings proven leadership experience and a track record scaling new consumer marketplaces to capitalize on the new financing,” said Christopher Bruno, founding CEO, who will transition to a new role as President and will remain on the company board of directors.
“Rally was the first platform to let anyone invest in the most aspirational collectibles on the planet. Three years later, they continue to innovate and drive forward an industry they invented. The opportunity to unlock a market driven by people’s passions is tremendous. I couldn’t be more excited to join the leadership team here,” Leimer said.
“We want to have a front-row seat in the alternative investment space, and Rally is the perfect partner. As the average investor on Rally is just 27 years old, we will be able to increase our engagement with younger target groups. We will continue to learn about digital communities and explore business opportunities in fintech,” said Stephan Baral, Head of Porsche Ventures US.
Rally is the first platform to allow non-accredited investors access to passion-led investments that traditionally have been off-limits to all but the ultra-wealthy. The average Rally member invests around $300 per offering, but the platform has no minimum investment and shares are available in assets for as little as $1/share. Rally’s mission is to allow anyone, regardless of age or socioeconomic status, to invest in one-of-a-kind items, with the potential for both emotional and financial returns.
Rally 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 company’s mission is to democratize alternative asset investing by providing access, liquidity, and transparency to markets that have traditionally only been available to a select few. Rally completed the first-ever initial offering for a vehicle in 2017. The Rally app is now easily available for iPhone, Android or Web (desktop & all mobile platforms) at https://www.rallyrd.com
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