• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
FinanceFintech

The App That Lets You Buy Ferraris and Jaguars for $50 Just Raised $7 Million. And It’s Blockchain Ready

Lucinda Shen
By
Lucinda Shen
Lucinda Shen
Down Arrow Button Icon
Lucinda Shen
By
Lucinda Shen
Lucinda Shen
Down Arrow Button Icon
September 27, 2018, 9:00 PM ET
Add Fortune on Google for similar content.

Luxury cars can be a lucrative investment. Earlier this year, a 1962 Ferrari 250 GTO was auctioned off for $48.4 million at Sotheby’s. It looked to be a sizable winning for its previous owner, an early Microsoft employee who purchased the vehicle in 2000 when such a car commanded a value of about $10 million.

More investors are betting that the average Joe may also want a piece of those profits. On Thursday, New York City-based Rally Rd. raised $7 million in Series A funding led by Upfront Ventures, adding to another $2.9 million seed round.

Here’s how it works: Rally Rd. curates a selection of vehicles with potentially high returns and lists it on their app (which has received approval from the Securities and Exchange Commission). There, users can spend as little as $50 for a piece of a Jaguar or Ferrari.

With the fresh funding, the startup plans to expand the model to assets such as high-end memorabilia, a market that includes items such as Babe Ruth-signed baseballs. Beyond that, Rally Rd. is also looking into other fields such as music, the arts, and into publishing rights.

“We’re looking at any field that has a high interest level, that has driven big returns and have big fan bases, but doesn’t have access to the market in a real way,” said Rally Rd. Co-Founder and Chief Product Officer Rob Petrozzo.

The idea behind Rally Rd. may also sound familiar to those in the blockchain space. Proponents of the technology, which is a decentralized ledger of transactions, have often pointed to the benefits of placing and even trading assets on the blockchain. In theory, doing so would speed up trades while ascertaining ownership of assets such as artwork, which has been stolen.

At one point during the firm’s creation in late 2016, Petrozzo and Bruno say they considered applying blockchain technology to Rally Rd. “As we launched the platform, we evaluated the idea of going on the blockchain immediately,” said Bruno. But they ultimately decided that the technology was too young, the regulation too sparse, and that it was something of a “solution looking for a problem,” he said.

To be clear, the firm is full of crypto fans: All three founders including Chief Financial Officer Maximilian Niederste-Ostholt own some form of cryptocurrency. And in a bid to keep the team humming, Rally Rd. was forced to confine all talk of digital currencies to the ten minutes between 10:50 a.m. to 11 a.m.—though that was at the peak of crypto mania late last year when the value of Bitcoin was still in the quintuple digits.

Even now, the company believes in the technology and is in a sense, prepared when and if blockchain technology makes a breakthrough and becomes scalable. The founders designed the platform in a way that would allow it to port.

“It’s a very easy switch for us, if and when the tech starts—and if there’s a way not to alienate investors, and not alienate customers,” Bruno said.

But for now, the company can and is expanding without blockchain.

Today, roughly 50,000 investors trade over Rally Rd.’s 12 cars which are worth an aggregate $3 million.

The firm’s founders plan to push the number of cars trading up to about 100 by the end of 2019. It’s also planning to open a show room in New York City—raising awareness of the company. Rally Rd. cars are currently housed in a climate-controlled warehouse in Pennsylvania, where vehicles are guarded by 24-hour security cameras and serviced by a concierge.

About the Author
Lucinda Shen
By Lucinda Shen
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

spiegel
Personal Financephilanthropy
Snap’s Evan Spiegel joins MacKenzie Scott in the billionaire race to erase medical debt—wiping out $550 million for 260,000 Californians
By Nick LichtenbergJune 26, 2026
2 hours ago
cuban
AIJobs
Everyone agrees that you hate AI, but only Mark Cuban sees why Silicon Valley is powerless to fix it
By Nick LichtenbergJune 26, 2026
2 hours ago
g
BankingFederal Reserve
Alan Greenspan said 3 years with Gerald Ford beat 18 at the Fed. His death at 100 raises the question: was he right?
By Simon Bowmaker, Paul Wachtel and The ConversationJune 26, 2026
2 hours ago
suez
EconomyIran
Ray Dalio says the U.S. just had its ‘Suez moment’—and history says what comes next could end an empire
By Nick LichtenbergJune 26, 2026
2 hours ago
Meet Micron, the under-the-radar chipmaker that just reported a 346% sales surge and helped stop a global AI selloff
AITech
Meet Micron, the under-the-radar chipmaker that just reported a 346% sales surge and helped stop a global AI selloff
By Marco Quiroz-GutierrezJune 26, 2026
2 hours ago
Current refi mortgage rates report for June 26, 2026
Personal FinanceReal Estate
Current refi mortgage rates report for June 26, 2026
By Glen Luke FlanaganJune 26, 2026
2 hours ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
1 day ago
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
2 days ago
Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
Success
Ikea’s billionaire founder was so frugal that he bought clothes from flea markets and took free salt and pepper from restaurants
By Orianna Rosa RoyleJune 25, 2026
1 day ago
Current price of oil as of June 25, 2026
Personal Finance
Current price of oil as of June 25, 2026
By Joseph HostetlerJune 25, 2026
20 hours ago
Current price of silver as of Thursday, June 25, 2026
Personal Finance
Current price of silver as of Thursday, June 25, 2026
By Joseph HostetlerJune 25, 2026
20 hours ago
Trump turns on Big Oil donors who spent nearly $100 million to get him elected—now he wants the DOJ to investigate them for price gouging
Economy
Trump turns on Big Oil donors who spent nearly $100 million to get him elected—now he wants the DOJ to investigate them for price gouging
By Tristan BoveJune 25, 2026
12 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.