Rally, which enables consumers to invest into collectibles, has closed its Series B round on $30m as well as $50m in debt.
Accel led the round, with commitments also coming from Upfront Ventures, Social Leverage and others. The debt facility was supplied by Upper90 Capital to help Rally efficiently offer one-of-a-kind assets across all categories.
With the funding, the company hopes to accelerate its expansion into new categories, including cash-flow producing assets like intellectual property, royalties, real estate and more. It also hopes to add one-of-one digital assets like NFTs.
Later in the year, the company is revamping its user experience with real-time trading of all assets.
The investment platform claims to be the first to have used Reg A+ offerings to democratise investments in one-of-a-kind assets for as low as $1 per share. This gives everyone the chance to own a piece of some of the rarest and most unique collectibles.
Since launching in 2017 with collector cars, the company has grown its investor base substantially, with more new investors participating in offerings in Q1 2021 than in all of 2020 combined. It claims Q1 2021 has a 575% increase in users compared to the same quarter last year.
Furthermore, Q1 transaction volume is up 450% compared to the same time in 2020.
The company has 15 categories available, including sport cards and memorabilia, trading cards, comic books, video games, rare books, wine, vintage watches, handbags and collector cars. There are over 300 assets available to trade or coming soon on the platform.
Rally CEO George Leimer said, “Our mission remains unchanged. If it’s a rare asset for which people have passion, they should be able to own a piece of it and participate in its appreciation.
“We’re unlocking value for asset owners and providing new access to rare items for passionate fans from all walks of life. Our partnership with Accel and new capital will allow us to reach more investors, offer more assets, and expand our trading experience as we build on our lead in fractional investing.”
The company previously raised $17m in a funding round last year.
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