Koia, a new investment platform which is bringing alternative assets to Europe, is announcing a $1.4 million pre-seed round. Investors in the round include Seedcamp, RTP, Portfolio Ventures and angels. The new investors are joining Koia’s earlier backers, who include co-founders of Monzo and Freetrade.
Koia’s mission is to make alternative assets accessible to anyone, via fractional ownership, and allow users to invest in assets they understand and are passionate about. Koia aims to break down barriers of entry and let anyone own a piece of an iconic asset previously only accessible to the wealthiest 1%. The startup is launching with collectibles like watches, fine wine and Pokémon Cards with a vision to ultimately be able to fractionalize any kind of physical or digital asset.
Interest in collectibles is at an all-time high, with 2021 seeing record-breaking sales across a wide range of categories from sneakers to trading cards to whisky. Meanwhile, digital assets are also thriving with NFTs surpassing $40bn in sales.
Koia was founded by Richard Draper, Iris ten Teije and Ben Riazy, who have spent their careers across traditional financial services firms and fintech startups. The team believes that the democratization of financial services has only just begun and that by leveraging for example blockchain and DeFi there will be opportunities to provide access to new, engaging and financially rewarding asset classes.
“We want to enable a fractional economy and open up access to opportunities previously only accessible to the ultra-wealthy. We want to make buying and selling a fraction of a Rolex, as fast and frictionless as buying a fractional share in your favorite company.” Iris ten Teije, Koia co-founder
To realise its vision, not only will Koia’s minimum investment amounts make alternative assets more accessible; storage, insurance and authentication will also be taken care of. This means investors don’t face any of the hurdles they would typically encounter when attempting to invest in alternatives.
“We’re thrilled to partner with the Koia team on their journey to create the leading fractional marketplace. We’re seeing a new wave of collectors who are increasingly investing in what they’re passionate about – be that NFTs, basketball collectibles or luxury watches – with a booming alternative asset market as a result. Koia is perfectly placed to further democratise this market by better serving users looking to get access to unique collectibles and we’re excited to see how they will change the alternative asset landscape.” Tom Wilson, Partner at Seedcamp