Rally, which empowers people to invest into rare and one-of-a-kind collectibles, has scored $17m in an oversubscribed funding round.
Upfront Ventures led the investment, with contributions also coming from Porsche Ventures, Raptor Group, Global Brain, Relay Ventures and Alexis Ohanian.
Proceeds from the round will enable Rally to add new partnership programmes to reach additional sources of supply. It will also help it to further the development of its technology and expand its compliance capabilities.
Launched in 2017, Rally enables consumers to invest into collectibles and alternative investments for as low as $1.
Rally now has more than 200,000 users on its platform and its transaction volume has increased by 195% over the past year, it claims.
The company is continuing to offer one-of-a-kind assets, including an original 1937 Heisman Trophy worth $460,000 and a Mike Trout Rookie Autograph Card worth $225,000.
Rally offers assets across a range of categories, including sport cards and memorabilia, trading cards, comic books, video games, rare books, wine, vintage watches, handbags and collector cars.
With the close of the round, the company has secured a total of $27m in equity funding.
Reddit and Initialized Capital co-founder Alexis Ohanian said, “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.”
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