Rally Rd., a New York City-based marketplace for investing in collector cars, secured $2.6m in seed funding.
The round was led by Columbus Nova with participation from Social Leverage and other individual investors Arun Sundararajan and Scott Galloway.
The company intends to use the funds to scale the New York based team, and add additional features and supported platforms for its membership base.
Led by Christopher Bruno, CEO, Rally Rd. is a marketplace for making investments in collector cars the same people buy & sell stock by combining a story-telling interface with a proprietary investing platform. 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).
The iPhone 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 completed its first initial asset offerings with 2 additional offerings currently live.