USA-based alternative asset investment platform Alto raises USD 40 million in Series B round

Alto Solutions Inc. (Alto), a USA based fintech startup, has raised USD 40 million in a Series B funding round led by Advance Venture Partners on 5 January 2022.

Investors: Advance Venture Partners led the latest funding round with participation from existing investors, including Unusual Ventures, Acrew Capital, Foundation Capital, Gaingels, Alpha Edison and Coinbase Ventures.

The Objectives behind the funding: The company will deploy the current proceeds to broaden access and improve capabilities of its Alto IRA and Alto CryptoIRA^® platforms, expedite hiring across all in-house teams, and continue the development of new products. ​

About Alto Solutions

Founded in 2015 by Eric Satz, Alto is an alternative asset investment platform that connects everyday investors to alternative investment opportunities. Alto launched its next-generation self-directed IRA platform in 2018 to make it easy for individuals to access and invest in alternative assets using their retirement funds. Among Alto’s current investment partners include AngelList, Masterworks, DiversyFund, Eaglebrook Advisors, Fundr, Grayscale, Republic, and Vint, as well as fund sponsors, financial advisors, and other direct issuers. The firm currently serves over 15,000 IRA investors with a billion dollars of assets under custody.

What the Founder has to say:

“I am proud of the success of the Alto team to date and grateful for the continued confidence of many of our core investors in this latest funding round,” said Eric Satz, Founder and CEO of Alto. “We believe this funding will provide more individuals looking to control their financial future with easy and affordable access to high-growth, diversified, non-traditional asset classes typically reserved for the wealthiest investors, including private equity, venture capital, real estate, securitized artwork, and crypto.”

What the Investors have to say:

“Advance Venture Partners (“AVP”) is thrilled to have led Alto’s Series B financing. We have followed Alto’s progress and believe that the company is well-positioned to transform how millions of everyday investors manage and invest their retirement savings,” said David T. ibnAle, Founder and Managing Partner of AVP. “Alto is attacking an IRA market that, despite representing trillions of dollars in assets, still struggles with antiquated processes and legacy service providers. We’re excited to back Eric Satz and a top-flight team that is removing friction from this market and enabling investors to seek both better returns and better diversification of their retirement portfolios.” 

Sarah Leary, a venture partner at Unusual Ventures and a director of Alto, added, “Alto has a clear vision to give everyday investors a seat at the table for investment opportunities that reflect the future. Alto has shown incredible momentum, especially over the last 18 months, connecting alternative opportunities in crypto, private equity, and other asset classes with the often-overlooked $37 trillion retirement account market. We are thrilled to continue to invest in Alto’s mission to make alternative investing accessible to everyone.”

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