Fintech Investment App ‘Rares’ Secures $4M In Seed Funding Round

Former NFL player Gerome Sapp’s fintech startup, Rares, has just earned $4 million in a seed funding round.

MaC Venture Capital led the round on October 11, and other participants included Cake Ventures, Portfolia Rising America Funds I and II, Evolution VC, W Fund, and Gaingels, according to a press release.

Launched in April of 2021 by the former NFL player, Rares offers its users fractional ownership through “rare, high-priced sneakers.”

The platform’s mission is to give back to the Black community by providing access to the sneaker market “by creating a new class of sneaker enthusiasts powered by financial literacy and cultural equity.”

Marlon Nichols, Co-Founder and Managing General Partner of MaC Venture Capital, said: “Rares is making participation in the collectible sneaker space once again accessible to everyone, enabling the minorities and individuals that helped create the culture to build wealth from it.

“I’m grateful to be a part of this exciting chapter for the Rares team as we work to empower communities passionate about sneaker culture and building cultural and financial equity in the massive collectible sneaker market.”