Realto Inc., an Overland Park, Kan.-based operator of a fully-automated, web-based marketplace for the secondary trading of illiquid real estate and alternative securities, closed a $4.5m in funding.
The round, which brought total proceeds raised to date to $8m, was led by Firebrand Ventures with investments from KCRise Fund and other key contributors. The previous $3.5m round, which closed in December 2020, was led by Gary Fish and JE Dunn.
The company intends to use the funds for growth and expansion, including the hiring of key personnel across the organization.
Led by CEO Brian King, Realto operates Realto Securities, LLC, a FINRA-registered broker-dealer that offers a marketplace dedicated to providing investors with the ability to trade traditionally illiquid real estate and alternative securities. In December 2021, its proprietary trading platform went live with trades in Phillips Edison & Co. (PECO) Class B restricted shares. In January 2022, the company received U.S. Securities and Exchange Commission clearance to operate an Alternative Trading System (ATS), allowing the firm to offer additional secondary trading opportunities via enhancements such as additional order types and two-sided quotes.
FinSMEs
05/05/2022