Fractional shares platform Rally has picked up $15 million in new funding from a wide-ranging group of investors that includes some with strong ties to sports.
Wheelhouse, the company launched in 2018 by Pawn Stars founder Brent Montgomery and late night talk show host Jimmy Kimmel, is at the heart of the new investment. Montgomery is also helping produce the new sports memorabilia-related reality show with Goldin Auctions.
Rally is also adding a number of celebrities and creators in the technology, media and entertainment space as new investors. Kevin Durant’s Thirty Five Ventures, which has put money behind multiple companies across the sports collecting space over the last 18 months, is a key investor in the round. Others include Gen Z and influencer-focused VC firm Animal Capital; founder of The Ringer Bill Simmons; six-time MLB All-Star and World Series champion Chase Utley; actor, producer and musician John Stamos; Producer and ESPN “30 for 30” co-creator Connor Schell; and “Cousin Sal” Mush Media co-founder and TV personality Sal Iacono.
The new funding round brings Rally to over $65 million in equity capital raised to date.
“Having deep roots throughout the media and entertainment industry will help us connect more investors with the one-of-a-kind items they care most about…and we’re thrilled to have Brent and Wheelhouse help us in this mission,” said George Leimer, CEO of Rally.
Said Wheelhouse CEO Montgomery, “The rise in fractional investing reflects the explosion of interest in collectibles as a dynamic asset class, which we refer to as “Investibles” – merging investors and collectors – which are attracting high-end investors and democratizing investing for passion players. Wheelhouse was created to bring storytelling and the biggest names into great businesses that could scale, and Rally is exactly that.”
Rally users can buy small shares across 15+ asset classes ranging from sports memorabilia and trading cards to historical documents and classic cars. For rare and expensive collectibles especially, Rally opens up access to items starting around $10 a share. Over 250,000 have signed up since its launch in 2016.
Wheelhouse aims to help Rally grow its brand through a collaboration that includes production of a podcast on collectibles and passion investing, and exposure to television audiences via the Pawn Stars.
Rally and Wheelhouse are planning a private event in Los Angeles, displaying some of Rally’s most valuable collectibles, including the game-used Staples Center floor on which Kobe Bryant played his final game, a T206 Honus Wagner card and other one-of-a-kind items.