Alto Honored for Achievements in Retail Investing and Wealth Management
NASHVILLE, TN / ACCESSWIRE / October 4, 2022 / CB Insights today named Alto Solutions, Inc. (Alto), a self-directed IRA provider that enables individuals to diversify their retirement investments, to its fifth-annual Fintech 250 ranking, showcasing the 250 most promising private fintech companies of 2022. This is the second consecutive year Alto has been named to the list.
"We're honored to be included in this year's CB Insights' Fintech 250 list along with a host of other innovative organizations," said Eric Satz, Alto founder and CEO. "Alto is on a mission to unlock alternatives for all and change the face of retirement for millions of Americans. We're doing this so that everyone has the confidence and opportunity to diversify their portfolios the way wealthy and institutional investors have done for years."
Alto's self-directed IRA platform streamlines the process for investing in alternative assets using retirement funds. Through Alto IRA and Alto CryptoIRA®, investors have a variety of alternative assets to choose from, including art, crypto, real estate, venture capital, and more. Alto has experienced notable company growth within the past year, including the successful close of a $40 million Series B funding round led by Advance Venture Partners in late December 2021. In addition, Alto recently released their 2022 Alternative Investing Report: How Millennials See Their Financial Future, which found that not only are millennials unsure about how to achieve a comfortable retirement, but also that a majority of Americans lack confidence in traditional equities markets, which speaks to the need for greater education, information, and tools to pursue investment options beyond the public markets.
Utilizing the CB Insights platform, the research team selected these 250 winners from a pool of over 12,500 private companies, including applicants and nominees. They were chosen based on factors including R&D activity, proprietary Mosaic scores, market potential, business relationships, investor profile, news sentiment analysis, competitive landscape, team strength, and tech novelty. The research team also reviewed over 2,000 of Analyst Briefings submitted by applicants.
"This year's Fintech 250 winners are shaping the future of financial services, from payments and banking to investing and insurance," said Brian Lee, SVP of CB Insights' Intelligence Unit. "Representing more than 30 countries, these companies are creating safer and more efficient payment methods, and transforming how traditional banking, insurance, and investing products are delivered. Together, they not only make financial services more convenient for users, but also make them available to more people, especially traditionally underserved populations around the globe."
Quick facts on the 2022 Fintech 250:
- Equity funding and deals: The Fintech 250 cohort has raised over $115B in equity funding across over 1,100 deals since the start of 2017 (as of 9/20/2022). In 2021 alone, winners raised over $51B across 337 equity deals.
- Unicorns: There are 159 companies with $1B+ valuations on the list.
- Global Reach: Globalization is a key theme for this year's Fintech 250. The winners represent 33 different countries across the globe-seven more than last year. Just over half (53%) of the selected companies are headquartered in the US, which is the fewest seen in the Fintech 250 since 2017. The UK came in second with 31 winners (12%), followed by India with 14 (6%), Brazil with nine (4%), and Germany with seven (3%).
About CB Insights
CB Insights builds software that enables the world's best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.
Alto is a self-directed IRA solution that enables individuals to diversify their portfolios by investing in alternative assets like private equity, venture capital, real estate, farmland, and crypto using retirement funds. Alto IRA and Alto CryptoIRA® offer the same tax advantages as more conventional, legacy IRAs while providing access to investment opportunities not offered by most custodians-without complicated or hidden fees. Alto's network partners include AcreTrader, AngelList, Eaglebrook Advisors, Masterworks, Republic, and Coinbase-which provides access to more than 200 coins and tokens-giving Alto users numerous ways to diversify their investments. Alto is not a registered broker-dealer or investment advisor. Alto does not promote or endorse individual investment opportunities and does not provide legal, tax, or investment advice to its clients.
To learn more visit: altoira.com
SOURCE: Alto Solutions, Inc.