Alto operates a self-directed IRA platform that simplifies investing retirement savings into alternative assets via partnerships with over 70 investment platforms, including AngelList, Grayscale and Masterworks. The company hosts nearly 20,000 funded accounts representing close to $1 billion in assets, and about 40% of accounts are dedicated to holding cryptocurrency. Alto was launched in 2018 and is based in Nashville; it aims to provide a simpler, more affordable option than traditional self-directed IRA custodians and is not a registered broker-dealer or investment advisor. The product targets retail investors seeking tax-advantaged access to alternatives such as crypto, private company equity and collectibles. Alto plans to expand its content offering to help investors educate themselves and is developing product innovations to increase access to collectibles and fund investing. The company intends to grow its product and engineering team from 50 employees to 120 by the end of 2022 using new capital. Alto is a financial technology company that launched a next-generation self-directed IRA platform in 2018 to make it easier for individuals to access and invest in alternative assets using retirement funds. The platform streamlines processes for investors, funding portals, and investment sponsors and offers custodial services through Alto Trust Co. Alto partners with investment platforms and sponsors including AngelList, Coinbase, EquityZen, Masterworks, Republic, and Wefunder. CEO Eric Satz founded the company to remove friction, manual processes, and excessive fees present at legacy self-directed IRA custodians. The company positions itself to help individual investors diversify into alternatives such as startups, real estate, private credit, and cryptocurrency. Alto will use recent funding to accelerate product development, enhance existing capabilities, and expand its product and engineering teams. Alto operates a technology platform that simplifies and automates the process for investors to include alternative assets in their IRAs. The company’s Alternative IRA (AltoIRA) enables investments in startups, private companies (including private equity and VC funds), real estate, marketplace loans, and digital currencies. Alto partners with investment platforms such as AngelList, EquityZen, Forge Global, Groundfloor, MasterWorks, Republic, and others to make IRA investments faster and less expensive. The platform reduces manual paperwork and costly processes by using automated technology to streamline transactions for investors, issuers, and platform partners. Alto positions its product as a way for individual investors to achieve greater portfolio diversification while retaining retirement tax advantages, citing the large pool of retirement assets in the U.S. (over $28 trillion, including $9 trillion in IRAs). The company launched in 2018 and is based in Nashville. Alto operates the AltoIRA, an individual retirement account product that gives investors the ability to invest in alternative assets such as startups, private companies, real estate, loans and digital currencies. The platform lets investors invest directly or through investment platform partners including AngelList, Groundfloor, Republic, Silicon Prairie, Wefunder and YieldStreet. Alto intends to expand its offering and integrate additional investment platform partners. The company is led by CEO Eric Satz, who previously co-founded Currenex and sold it to State Street Corp. The company raised a $2.8M seed round and has raised $3.8M in total funding to date.

Total raised

$65M

Funding rounds

4

Latest round

Series B

Latest activity

Jan 2022