A bit of Ferrari: Fintech-startup Rally Rd will allow you to buy "shares" of rare cars
New York Fintech startup Rally Rd allows you to invest in rare collectible cars, like Ferrari, Porsche or Lamborghini
For this, investors do not need to have enough money to buy the entire car. For sale will be issued "shares" of a particular machine. Their minimum cost will be $ 50, and users will be able to purchase an asset using a smartphone application.
How it works
The target audience of the project are automotive industry fans who do not have sufficient resources to buy rare cars. Now they can buy "shares" of the car they like, as on a regular stock exchange.
According to co-founder and CEO of the project, Christopher Bruno, this approach allows investors to “enjoy the effect of ownership” without the accompanying headache associated with the maintenance of an expensive collection car. At the same time, the cost of such machines increases over time, so investors will be able to get real income.
Image: Rally Rd
Investments in 10 collectible cars are now available to investors of Rally Rd, but this number should increase to 100 by the end of the year.
The Rally Rd project has already attracted $ 10 million of investment, and also received a work permit from the American Securities and Exchange Commission (SEC).
The main restriction for investors Rally Rd - they buy only a share of the property in the car. Accordingly, they will not be able to physically own it and, for example, drive a car along a real road.
At the moment, even being close to your asset is not easy. The startup plans to solve this problem by launching showrooms in different cities. Now one of the first points of operation is in the SoHo district of New York - in the center of the room is placed the 1980 Lamborghini Countach Turbo, one “share” of which costs $ 127.
The main task of the showrooms is to give potential investors the opportunity to see the asset in which they invest. In this way, they will be able to get a certain satisfaction, even though there is no opportunity to drive a car.
According to Bruno, Rally Rd is a tool aimed at financially literate people who are looking for various investment opportunities. According to the general director of the service, almost all of its users invest in traditional assets, such as shares of American companies .
At the same time, the project team is convinced that the number of people willing to invest in rare assets will gradually increase.
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