Rocket Dollar Secures $ 8 Million Funding For Its Retirement Investment Platform

Rocket Dollar, a self-directed retirement platform, recently closed with $ 8 million in funding.

Austin-based fintech company, founded in 2017, allows people to use self-directed retirement accounts to make a wide variety of investments in alternative assets such as real estate, startups, private equity, crypto -currency, etc.

Park West Asset Management led the Series A financing with participation from Hyphen Capital, Moneta Venture Capital, Kraken Ventures and Primetime Partners. Existing investor Sure Ventures also participated.

The company also announced that

Former CEO and Chairman of T. Rowe Price Global Investment Services, Todd Ruppert, will also join Rocket Dollar’s board of directors.

Rocket Dollar plans to use the funds for product development, customer service, cybersecurity, and expansion of investment education and content creation.

“Modern investors expect ease, confidence and convenience when it comes to managing their investment portfolio,” said Henry Yoshida, CEO and co-founder of Rocket Dollar, in a press release. . “After studying this industry for years, we have applied new technology to a complex paper-based industry that instantly makes investing in alternatives accessible and affordable. This puts control back to clients and opens up a wider range of asset classes to savvy investors, without the need for expensive service providers. “

Rocket Dollar offers a flexible IRA and Solo 401K investment platform that allows account holders to exploit investment opportunities outside of stocks, bonds and mutual funds.

“In recent years we have seen an explosion of interest in alternatives as people see how much wealth is created from private investment,” Dave Lu, Founder and Managing Partner of Hyphen Capital. “Henry and his team are uniquely qualified and well positioned to revolutionize the way investors leverage self-directed accounts for alternative investments, having helped thousands of people unlock the potential of their IRA funds to accelerate wealth accumulation. “

“The financial industry is in the midst of a technological revolution,” said Brandon Gath, Managing Partner of Kraken Ventures, in a press release. Diversification is the only free meal when it comes to investing, but siled operating systems and outdated technology stacks have meant consumers have long struggled to move their retirement savings across a wide range of asset classes. . This is what Rocket Dollar solves: they allow everyone, from the twenties straight out of university, to the 60 years old seeking to maximize their savings, to gain the same level of financial autonomy historically reserved for ultra – rich. Kraken Ventures believes that technology empowers the investor to empower and that Rocket Dollar allows everyone to add crypto – the best performing asset class of the past decade – to their retirement account.

Rocket Dollar has over $ 350 million in client assets.

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