The sports-only memorabilia investment platform Collectable has raised an additional $5.5 million as part of its Series A funding round, the company announced yesterday. The round was co-led by Amplo, Bain Capital Ventures and Fifth Down Capital.
Collectable, which launched last September, has counted more than 35,000 users while completing more than 100 sports collectible IPOs. The platform has moved high-value assets such as a Wilt Chamberlain game-worn and autographed high school uniform, a Muhammed Ali WBC Championship Belt, and a 1965 Johnny Unitas game-worn and autographed road jersey.
Collectable lets users own fractional assets of shares in lucrative memorabilia. The new round of funding will go toward growth efforts, marketplace analytics and content creation to expand the brand’s reach.
Trading cards and collectibles, both in digital and physical forms, have seen a renaissance in recent years. Rally is similar to Collectable but expands beyond sports memorabilia; companies such as Panini and Topps are seeing rapid growth. Blockchain and NFTs are only adding to the hype, with Dapper Labs creating a frenzied market with NBA Top Shot and Ted Leonsis likening the tech boom to the birth of a new internet. The future of digital crypto collectibles was a main focus at SportTechie’s 2021 State Of The Industry virtual conference.
