Fintech: Southeast News

Fintech Southeast News curated each weekday for Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, and Tennessee

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Posted April 27, 2021

 

Alto Solutions, Inc. (Alto), the next-generation self-directed IRA platform making it easier for individuals to access and invest in alternative assets using their retirement funds, today announced the successful close of a $17 million Series A funding round led by Unusual Ventures, with additional participation from existing investors Moment Ventures, Acrew Capital, and Alpha Edison, and strategic investments from Carta, Coinbase Ventures, Franklin Templeton, New York Life Ventures, and Stone Ridge Holdings Group.

Alto will use the investment to accelerate the development of new products, further enhance its existing capabilities, and expand its product and engineering teams.

“Opening a self-directed IRA to invest in alternative assets like startups, real estate, or cryptocurrency should be easy,” said Eric Satz, founder and CEO of Alto. “I founded Alto after spending weeks of frustration trying to navigate the outdated manual processes used by legacy self-directed IRA custodians, not to mention their endless fee menus. There’s a lot of friction and unnecessary costs in the self-directed retirement industry, and Alto is on a mission to eliminate them. This funding round will rapidly accelerate the implementation of our vision and product roadmap.”


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