Collectible Trading Platform Alt in Midst of $40M Funding Round

Sports card trading platform Alt is in the process of raising $40 million, according to a Securities and Exchange Commission filing earlier this month. 

The company founded in 2020 has already raised $23 million in the most recent funding round that began in July and is looking for an additional $17 million. 

• Kevin Durant and Larry Fitzgerald were initial investors in Alt.
• Tom Brady, Alex Morgan, Candace Parker, and Giannis Antetokounmpo invested in the company’s Series B round that closed last November. 

The company has raised $305 million total, according to CrunchBase. 

Sportico was the first outlet to report on the current funding round. 

Beyond being a marketplace — like eBay — to trade collectibles, Alt also purchases items and puts them up on its exchange both for fixed prices and via auctions. Alt also offers storage of collectibles purchased through its marketplace. 

Founder  Leore Avidar made headlines in 2020 when he secured a 2003-04 Upper Deck LeBron James rookie card for $1.8 million from Goldin Auctions months before Alt’s debut. Another James card sold for a then-record $5.2 million on the PWCC marketplace in April 2021. 

A signed rookie Stephen Curry holds the title as the most ever paid for an NBA trading card — going for $5.9 million last year.