Alto Solutions Inc. Closes $17 Million Series

Alto Solutions Inc. Closes $17 Million Series

Alto Solutions, Inc. has announced that it has closed a $17 million Series A funding round. Alto currently has more than 20,000 funded accounts and plans to grow its team of engineering and product employees. The new funding will help Alto expand its product offerings. The company is also looking to expand its content offering, including a cryptocurrency-related blog, art, and private company investing.

Acrew Capital and Franklin Templeton

Alto Solutions, Inc. ( NASDAQ: ALTO ) has closed a $17 million Series A funding round led by Unusual Ventures and Acrew Capital. The funding round included new investors like Acrew Capital and Franklin Templeton, as well as existing ones, including Coinbase Ventures. The company has a team of nearly 120 product employees. It plans to increase its content offering to educate investors.

Alto is not a registered investment advisor or broker-dealer, but rather, an online platform that helps investors invest in alternative assets. Alto’s users have an increasing interest in crypto, as is evident by their growing user base. The startup also anticipates growing demand in private equity and art.

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In addition to this, other companies have raised money in the past few months. Sword Health, a blockchain-based digital physiotherapy startup, has raised $4.6 million in seed funding. In addition, KOFA Healthcare and Jaffray Woodriff both invested in the company’s first round of funding.

One of the Leading Self-Directed IRA Platforms

Alto is one of the leading self-directed IRA platforms, hosting nearly 20,000 funded accounts that represent close to $1 billion in assets, with over 40 per cent of those funds dedicated to cryptocurrency. Alto raised $40 million in Series B funding from investors including Acrew Capital, Unusual Ventures, Foundation Capital, and Gaingels. It has since attracted other investors and is in the process of building out its technology and services. The company expects to see a continued growth in demand for both art and private company investing.

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CryptoIRA for the IRA Investor

The cryptoIRA is a new investment option for the IRA investor. This new investment option allows investors to invest in cryptocurrencies in the form of traditional or crypto assets. Unlike traditional IRAs, a cryptoIRA does not incur any taxes. In fact, capital gains accrue on a tax-deferred basis. However, the investor should seek the advice of a tax professional and financial advisor before investing in any cryptocurrency. The company was led by Advance Venture Partners and received strategic investments from Carta and Coinbase Ventures. Tech Crunch reported that Alto will use the funds to increase its team size and add to its product and engineering teams. Read more informational blogs.

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