New York City-based Rally Rd, a marketplace for investing in collector cars, has secured $2.6 million in seed funding. Columbus Nova led the round with participation from other investors that included Social Leverage.
NEW YORK, NY — January 25th, 2018 – Rally Rd., A marketplace for making investments in collector cars the same way you buy & sell stock, announced that it has raised a $2.6 million seed round investment from leading venture capital firms and individual investors.
Participating in the oversubscribed round are Columbus Nova (lead), Social Leverage, and notable NYU Stern professors / authors Arun Sundararajan and Scott Galloway. This round of funding will be used to scale the New York based team, and add additional features and supported platforms for the rapidly growing membership base. “I was introduced to the founders Chris, Rob and Max a while back and we immediately hit it off regarding the product and vision,” said Howard Lindzon of Social Leverage. “I love the idea of an asset class being flipped on it’s head by technology and distribution to allow millions of people access.”
Rally Rd. combines a story-telling interface with a proprietary investing platform that gives users access to markets which historically had steep learning curves and high barriers to entry. “Alternative investments in automobiles and other luxury items have long been a strategy for those connected and wealthy enough to have access, and many have outperformed nearly all equity indexes over the last decade” said Christopher Bruno, CEO of Rally Rd. “By democratizing the collector car market, and soon other high-end assets, we’re providing access, price transparency, and liquidity to a new generation of investors.
With the current focus on nostalgic automotive assets from the 1950’s through 1990’s, users can pick-and-choose from an eclectic collection (including classics from Ferrari, Lamborghini, and Porsche). Unlike other alternative investing platforms and typical fund models, the Rally Rd. app will allow investors to participate in secondary transactions during monthly trading windows through select broker-dealers. This will provide new investors the opportunity to purchase shares and give current investors the ability to place their shares up for sale using the bid/ask paradigm.
The company has successfully completed it’s first initial asset offerings via their iPhone app, with 2 additional offerings currently live. Bruno says the company has plans to release “25-50 blue-chip classic cars over the next 12 months” on all platforms, with additional asset classes to follow over the same period. Currently, offerings start as low as $57.50 per share
with no minimum investment.
ABOUT RALLY RD.
Rally Rd. is a first-of-its-kind platform where unique, high-value assets are securitized, split into shares, then offered up 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 IPO for a vehicle in 2017. The newest iteration of the Rally Rd. app is now available in the App Store for iPhone.