Alto Closed $40 Million Series B Funding Round with Coinbase Ventures and others

TokenInsight news, investment services provider Alto has closed a $40 million Series B round of funding led by Advance Venture Partners with participation from Unusual Ventures, Gaingels and Coinbase Ventures. The funds raised will be used to scale its product and engineering teams. Alto provides a self-directed investment platform for users to invest their retirement account funds in other assets. Alto reportedly has nearly 20,000 funded accounts with nearly $1 billion in assets, 40% of which are dedicated to holding cryptocurrencies. Previously, Alto closed a $17 million Series A funding round in April 2021.