Alt gets $ 75 million after poaching eBay’s top executive Nicole Colombo

Earlier this week, we covered the news of how the former Managing Director of Collectibles and Commerce Nicole Colombo left eBay and joined Alt. Nicole joined the new collectibles startup as president, which was officially announced on their LinkedIn on November 8.

Well, today it looks like she may have been made aware of inside information that may have swayed her decision to leave ship, as Alt just announced a serial $ 75 million fundraiser. B in the industry’s very first round of Community funding.

The funding round includes well-known names including serial investor Naval Ravikant as well as professional athletes Tom Brady and Giannis Antetokounmpo. You can see Alt’s full announcement below.

Series B Alt Funding Announcement

“Today, we’re excited to share that we raised $ 75 million Series B in the first-ever community-led industry round. Today more than ever, the founders raise funds directly from their communities who have supported them throughout their journey. For this round, we intentionally raised funds from thought leaders at the intersection of culture, community and capital.

AngelList co-founder Naval Ravikant and Complice co-founder Jeff Fagnan started the cycle through Spearhead, a program that gives seasoned founders a first fund to invest in angel investors, and who believe the best investments come from directly from the founders. Alexis Ohanian’s Seven Seven Six fund also participated.

In addition, we have welcomed a set of founders and funds led by operators: Vibe Capital, Breyer Capital, Shrug Capital, Apollo Group, Hyperguap, A *, Packy McCormick, Todd Goldberg and Rahul Vohra, and Julian Shapiro.

Professional athletes Tom Brady, Candace Parker, Giannis Antetokounmpo, Alex Morgan and Marlon Humphrey join our existing investors Kevin Durant, Larry Fitzgerald and Kelvin Beachum.

“As pioneers in the field of alternative assets, we wanted to do something innovative with our own table of hats that was authentic to what we are building. We are truly excited to partner with some of the best operators in the industry and world-renowned athletes to make Alt the destination where culture and finance connect.

Leore Avidar, Founder and CEO, Alt

At Alt, we envision a world where everything is an investable asset. We are reinventing liquidity and banking products to support the next generation of investors. By using collectible cards, we establish a proof of concept to create financial products that traditional financial institutions do not support or recognize as collateral. Over the next few years, we plan to expand into other asset classes to support everything from trading cards to watches, NFTs and even LP interests.

Since launching earlier this year, clients have added over $ 200 million in assets to their portfolios, $ 70 million in assets are kept in our physical vault, and the exchange has grown by 30%. in MoM in GMV. In September, we launched Liquid Auctions, providing instant liquidity and asset transfer for hundreds of assets held at auction.

“We define alternative assets as any asset that a traditional bank does not consider to be a real guarantee. Where the banks stop, Alt begins. We want to be the financial platform for the next generation of assets ”,

Nicole Colombo, President, Alt

As innovators in the investment world, we want to be just as forward thinking when it comes to building our foundation. We are one of the first to adopt Web3 and we are building our basic infrastructure with blockchain so that we can scale with agility.

Later this month, Alt will be available on the App Store and Play Store, so you can track the value of your cards, share your collection, discover other cards, and complete transactions in an engaging mobile experience and fluid.

With an impressive Series B funding round with a few big names behind them, Alt is definitely one to watch through 2022, especially with his knowledge of the NFT space. We will keep you posted on the latest developments.

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