INSUBCONTINENT EXCLUSIVE:
What happens when you bring together an entrepreneur, a product designer and an investment banker who all really love collector vehicles You
get Rally Rd., an app for buying and selling equity shares in classic cars.Launched in 2016, the company SEC-compliant platform lets users
purchase shares in Ferraris, Porsches, Lamborghinis and other classic models for as little as $50 per share
The company says it has50,000 members that have invested millions
Currently, there are just 10 cars available to purchase stakes in, though Rally Rd
expects to have 100 available on the app by the end of 2019.The New York-based startup has just closed its second round of funding, a $7
million Series A led by Upfront Ventures, with participation fromAnthemis Group, Social Leverage, WndrCo, Nas, Betterment co-founder Eli
Broverman and Acorns co-founder Jeff Cruttenden
Earlier this year,it announced a $3 million seed round led by Columbus Nova.Rally Rd
co-founders Chris Bruno and Rob Petrozzo told TechCrunch the cryptoboomand bustreally put digital asset investing in the mainstream,
helping to bolster business that would have seemed pretty odd just a few years ago.The pair plan to use the investment to open what they
calla &live investing ecosystem,& a vehicle showroom where users can go to participate in initial car offerings in-person
The first will be in New York SoHo neighborhood, with other locations to follow in Los Angeles, South Florida and possibly Texas, where they
have a strong user base.&We want to create that Apple Store atmosphere where anyone can come in and learn about equity investing on the
spot,& said Petrozzo,Rally Rd.&schief product officer.Through a subsidiary company, Rally Rd
purchases collector vehicles and holds the cars& titles.The startup then hosts SEC-registered offerings, essentially an IPO for a car, where
investors can buy one or more of 2,000 equity shares.The vehicles are registered for sale through a registered broker-dealer available in 32
states; the company is still working on obtaining licenses for the remaining 18 states.Just like the regular stock market, after the initial
holds regular trading windows for each vehiclewhere users can buy or sell their shares in an app-based secondary marketplace.&They&ve
literally recreated the NASDAQ or NYSE experience for these assets on the Rally Rd
platform,& Upfront partner Greg Bettinelli, who has joined Rally Rd
board of directors, told TechCrunch.Bettinelli added that the reaction he has seen from Rally Rd
customers issimilar to what he saw in the early days of the Amazon-acquired smart doorbell company Ring, mobile sneaker marketplace GOAT and
ThredUp, an online consignment store that raised more than $125 million to date.For now, Rally Rd
isn&t making money.They don&t take any management fees or share of the offering
Bruno says their plan to generate revenue is to adopt the Robinhood model and are building out a subscription service for those interested
in premium access.In early 2019, Rally Rd
expects to announce expansions into other verticals, including art and sports memorabilia
At some point, they plan to make the app available around the globe, beginning with Australia, Europe and Canada.DriveShare will let you
rent out your classic &57 Chevy
