Overland Park-based Realto has closed a $4.5 million funding round — thanks in large part to the backing of Kansas City-based investors.
“We’re excited to welcome these important investors as we continue to expand our robust trading capabilities across the universe of alternative products,” Brian King, co-founder and CEO, said in announcement of the funding round which was led by Firebrand Ventures and received support from KCRise Fund.
The injection is expected to further fuel growth of Realto — the first fully-automated online marketplace for secondary trading of illiquid real estate and alternative securities — and support key hires.
“We are thrilled to lead this round in Realto,” said John Fein, Firebrand Ventures managing partner and newly announced Realto board member.
“The team has deep experience building exchanges and facilitating commercial real estate transactions, and is targeting a huge addressable market of traditionally illiquid real estate and other alternative assets,” he continued. “The Realto platform is poised to unlock billions of dollars of value for their customers and we’re very excited to support their growth.”
In 2020, the company raised $3.5 million in a round led by Gary Fish, founder of Fishtech Group and a nationally known thought leader within the cybersecurity space, and JE Dunn Construction.
Darcy Howe and Ed Frindt, KCRise Fund
New funding for the company follows several months of successes including clearances by the Financial Industry Regulatory Authority and the U.S. Securities and Exchange Commission, the company said, noting indicators that brought investors such as Darcy Howe and KCRise Fund eagerly to the table.
“KCRise Fund is delighted to invest in Realto and its seasoned leaders,” said Howe, managing director, noting King’s track record as former vice president of the now-exited Bats Global Markets.
“The team has an established history of successfully disrupting highly complex industries and we are excited to partner with them in scaling their private securities marketplace.”
Click here to learn more Realto and how its platform works.
