Aug 18, 20234 min read

Splint Invest partners with TheCarCrowd to offer fractional investment in rare and stunning Ferrari

Splint Invest has partnered with the innovative, UK-based automotive investment platform TheCarCrowd. This new strategic partnership will see Splint invest customers able to purchase “Splints” in classic cars and iconic supercars selected by TheCarCrowd’s expert panel. First up on the grid is a stunning Ferrari 348.

New partnership to help Swiss tap into the world of alternative and passion investing in iconic classic cars
TheCarCrowd recently funded 1989 Fiesta XR2i in just 90 minutes, highlighting demand
Recent Knight Frank 2023 Index showed 185% growth in classic cars over past decade
First car of the partnership will be a much sought-after manual Ferrari 348 TB

As a world leader in fractional automotive investment, TheCarCrowd has more than £1M in assets currently under management and its selection process has achieved a blended Accounting Rate of Return (ARR) of 20 per cent. It is the perfect partner to provide Swiss Splint investors with access to the world’s fastest-growing alternative asset class, classic cars. The partnership will launch with a striking manual Ferrari 348 TB – one of just 2,894 ever made.

Splint Invests platform has revolutionised the European alternative investment scene, granting retail investors easy access to an array of fractionalised diversified assets. Since the launch of their investment app in 2022, Splint Invest has gained more than 5.000 retail investors and has more than £1M in assets currently under management. It has given enthusiasts, and those looking to diversify, an opportunity to kick-start their investment journey into everything from luxury handbags, art and precious metals to rare collectables.

Expert Curation of Classics

Looking to the lucrative classic car market, Splint Invest has chosen an expert partner in TheCarCrowd. Splint makes use of Switzerland’s Beneficial Shared Ownership laws to enable straightforward investing in alternative asset classes. TheCarCrowd will act as Splint Invest’s asset issuer, leveraging its core strengths to bring Splint investors with exceptional vehicles and storing and maintaining the asset until maturity.

TheCarCrowd’s role in the partnership will be to provide three functions: asset curation, asset custody, and asset realisation. Asset curation will leverage TheCarCrowd’s expert panel to select vehicle makes and models that offer investment potential. A specific example will then be tracked down by its team and a complete background and provenance check will be completed. After Splints of the vehicle are purchased, TheCarCrowd will store the vehicle at its secure, dedicated UK site, which already cares for more than £1M in automotive assets. After a period of 2-4 years, TheCarCrowd will assist with the vehicle’s sale and distribution of funds.

David Spickett, CEO of TheCarCrowd, commented: “We're thrilled to join forces with Splint Invest. Our proven track record and core strengths in asset curation, custody, and realisation will ensure that Splint Invest’s customers are in great hands. With classic cars offering the highest returns of all alternative asset classes, including a 25 per cent gain last year, this partnership is a very exciting opportunity for the Splint Invest community. When you consider the extraordinarily high cost of entry to the classic car market, fractional entry with Splint Invest using expert-selected vehicles is an accessible alternative to an asset class often reserved for the superrich.”

Mario von Bergen, Head of Investments at Splint Invest, commented: “We are continually looking to expand and refine our offerings to customers. Having seen the popularity and performance of classic cars as a form of alternative investment, we sought out experts that not only understood the vehicles but also fractional investing. Due to the vast growth of our investment plattform the partner would need to offer a scalable collaboration. TheCarCrowd fulfilled both requirements with an international reputation in asset selection. Currently, TheCarCrowd has more than £1M of assets under management and their selection process has to date resulted in an ARR of 20 per cent. Right from our early conversations, it was clear we had found the perfect partner. We are eager to launch this first offering to our beloved customers and look forward to seeing this collaboration grow.”

Partnership launches Ferrari first

The partnership will launch with an exceptional example of a Ferrari 348 TB. The ‘prancing horse’ has long been an automotive collectors’ staple, and TheCarCrowd’s panel managed to track down a much sought-after manual, left-hand-drive example. Being left-hand-drive means that it has export potential, attracting eventual buyers from both European and North American markets. With a raw and analogue driving experience that is unmatched by modern machinery, this engaging Ferrari was the last with a five-speed manual and is one of just 2,894 ‘TB’ variants ever produced.

Though it looks stunning, the allure of the 348 TB is in its howling 3.4-litre, quad-cam, dry-sump V8. Producing 296bhp, this was the last V8-engined Ferrari to be developed under the watchful eye of the legendary Enzo Ferrari himself. The 348 TB selected by TheCarCrowd has undergone a meticulous non-intrusive restoration. It is also, interestingly, a single-owner vehicle, making it one of the UK’s most pristine examples.

The total asset cost – including curation, storage, insurance, and maintenance – comes to £64,600. The past performance of similar assets indicates an average annual return of over 9.62% from 2020 to 2023, highlighting the medium-to-long-term potential of this iconic V8 Ferrari. This will be divided into 1.564 Splints and available to Splint investors from 18 August 2023, 9am.