Konvi raises $900,000 to democratise rare asset investing

A pan-European crowd investment platform for alternative assets backed by a top Snap executive has raised $900,000 in pre-seed funding as it looks to democratise the sector.

Berlin-based Konvi aims to make investing in alternative assets like rare watches and valuable art accessible to retail investors.

Traditionally, investments in expensive collectables is the preserve of large-scale investors.

The fintech buys and sells rare assets through partners so Konvi users can invest in them and hopefully see the value of the collectables go up. 

One of the latest assets funded through Konvi is a Cartier XL Tortue High Complication Platinum watch, one of only 15 in the world with a retail price of $500,000.

Konvi says that investors, who can start investing with as little as €250, are looking to invest in alternative assets in light of the current volatility of financial markets.

Konvi takes a one per cent fee on those investing between €250 and €999, but no fee on those investing higher amounts.

Konvi claims that individuals who purchase luxury assets through its partners took home returns of up to 20 per cent a year over the past decade.

The female-led fintech was founded in 2020 by Ioana Surdu-Bob, Lena Sonnen and Eran Peer, a trio of experienced retail investors.

Currently, its investment assets include watches and fine wine but Konvi is also planning to expand investment opportunities in other asset classes such as whisky, art, collectable cars, handbags and NFTs. 

Backers include Claire Valoti, director EMEA Snap, Christoph Roettele, the former CEO of Check24 and former executives from Shopify as well as the early-stage VC APX (Axel Springer Porsche).

"It was a very easy decision to invest in Konvi,” said Valoti.

“They are stellar founders, who have built a very user-centric platform democratizing investments into high-value alternative assets in a regulatory approved manner. 

“When you think about how many different physical asset classes this can extend to, let alone then adding virtual goods (NFTs), their potential market size is incredibly exciting.”