Alto Closes $40 Million Series B Funding Round to Help More People Use Their Retirement Dollars to Invest in Alternative Assets Including Crypto

  • Fundraising News
  • 10.01.2022 10:20 am

Round led by Advance Venture Partners includes continued support from core investors including Coinbase Ventures and Unusual Ventures

Alto Solutions, Inc. (Alto),the self-directed IRA platform making it easy and affordable for individuals to invest in alternative assets using tax-advantaged retirement funds, today announced the successful close of a $40 million Series B funding round. Advance Venture Partners was the lead on this round of funding, with additional participation from existing investors including Unusual Ventures, Acrew Capital, Alpha Edison, Foundation Capital, Gaingels, and Coinbase Ventures. Alto will use this round of funding to broaden access and enhance capabilities of its Alto IRA and Alto CryptoIRA® platforms, accelerate hiring across all in-house teams, and continue development of new products. ​

"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."

This latest round of funding caps off a record 2021 for Alto, including a successful Series A fundraise of $17 million which closed in April. The firm currently serves more than 15,000 IRA investors with a billion dollars of assets under custody.

"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." Mr. ibnAle will join Alto's Board of Directors.

Sarah Leary, 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."

Alto's rapidly growing user base is following the mega trend led by institutions, including endowments and family offices, which now hold anywhere from 25-50 percent of their assets in alternatives. Alto is committed to making it easier for individuals to invest their IRA funds, defer taxes, and explore more options for growth. With greater access to alternative assets, individual investors can achieve true portfolio diversification they simply cannot get from investing exclusively in today's shrinking public markets.

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