Rally Rd, a New York-based fintech company that allows users, from all income levels, buy and sell equity shares in blue-chip assets, has come up with something unique in its attempt to take asset diversification to a whole new level. The company, which raised over $10 million from a range of investors like rapper/venture capitalist Nas, Jeffrey Katzenberg’s & Anthony Saleh’s WndrCo, and Acorns co-founder Jeff Cruttenden, and has the US Securities and Exchange Commission –SEC’s backing, lets investors buy classic automobile shares for as low as $50 per share.
Shares of classic automobiles, which include the Ferraris, Porsches, Lamborghinis and other classic models, can be purchased at $50 per share, but the catch in this deal is, the opportunity to experience the thrill of being behind the wheel of a luxury sports car. Typically, although investors are technically shareholders of an asset, they don’t get to be behind the wheels of these classics and experience the sheer thrill of driving them or even see them up front, the company intends to change that and thus came up with this middle-ground solution.
In Jan. 2019, the fintech startup opened a store in New York City’s SoHo neighborhood, stationing a 1980 Lamborghini Countach Turbo. The car is one among at least 10 cars and is priced at $127 per share, that startup has made available for its app users, and aims to increase this figure to 100 by the end of 2019. The company’s objective is to showcase classic, luxury cars to investors, to provide them an opportunity to have a first-hand view of what they’re buying.