Alto, a Nashville, TN-based technology platform for investors to add alternative assets to their IRAs, raised a $2.8m seed funding.
Backers included Jake Gibson, co-founder of NerdWallet, Foundation Capital, Sequoia’s Scout Fund, Amplify.LA, and First Check Fund and Green D Funds.
The company, which has raised total funding to $3.8m, intends to use the funds to expand its offering and integrate additional investment platform partners.
Led by Eric Satz, CEO, Alto provides the Alternative IRA (AltoIRA), an individual retirement account that gives investors the freedom to invest in alternative assets like startups, private companies, real estate, loans, and digital currencies, either directly or through one of Alto’s investment platform partners, like AngelList, Groundfloor, Republic, Silicon Prairie, Wefunder and YieldStreet.
Prior to founding Alto, Mr. Satz co-founded Currenex, an online global foreign currency exchange company serving banks, hedge funds and other active traders. In 2007, Currenex sold to State Street Corp. for $564 million.