- Rally — a creator of fractional alternative investing that enables anyone to invest in rare and one-of-a-kind collectibles for as little as $1 per share — has announced that it has raised a $17 million funding round that closed earlier this summer
Rally — a creator of fractional alternative investing that enables anyone to invest in rare and one-of-a-kind collectibles for as little as $1 per share — has announced that it has raised a $17 million funding round that closed earlier this summer. The oversubscribed round includes repeat investor Upfront Ventures as well as new investors like Porsche Ventures, Jim Pallotta’s Raptor Group, Global Brain, Relay Ventures and Alexis Ohanian. So far, the company has raised $27 million in equity capital to date.
With this funding round, 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.
Now Rally has 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.
Rally has been continuing to source one-of-a-kind assets in new and existing categories. And 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 of these items will be available to investors for less than $50 per share.
Launched in 2017, Rally was considered the first to offer fractional investment opportunities in the alternatives market, unlocking access to collectible assets. And the company — even during a global pandemic — continues to provide many opportunities to invest in collectibles and other alternative investments, having conducted more than 120 offerings to date.
The average Rally member invests around $300 per offering, but the platform does not require a minimum investment and shares are available in assets for as little as $1/share. And 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.
With this new funding, Rally attracted George Leimer, technology veteran from Disney/ESPN, Apple & eBay, to join the management team as CEO.
KEY QUOTES:
“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.”
— George Leimer
“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.”
— Stephan Baral, Head of Porsche Ventures US.
“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. I’m excited to now also be an investor in the company, and am looking forward to watching Rally continue to grow.”
— Alexis Ohanian, co-founder of Reddit and Initialized Capital
“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. 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.”
— Rob Petrozzo, co-founder of Rally
“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.”
— Christopher Bruno, founding CEO, who will transition to a new role as President and will remain on the company board of directors
