Seed Round · Financial infrastructure for tradable sports assets

Own the market,
not just the horse.

The SEC-compliant marketplace to buy, sell and trade sports assets — in real time.
● Raising $2.5M  ·  live & revenue-generating
The thesis

Sports-asset ownership is a $400B+ global market that still trades like it's 1985 — private, illiquid, relationship-gated. MORNINGLINE.IO builds the ownership, trading and regulatory infrastructure that turns it into fractional shares trading in real time. We own the compliant rails for one sport — horse racing — then replicate the same engine across every sports-asset class.

Scope of the opportunity

A large, fragmented market with no liquid venue.

$400B+
Global racehorse asset market (TAM)
$36B
U.S. market — beachhead (SAM)
<1%
Of U.S. investors can participate today
0
Real-time, liquid marketplaces — until now
Demand is proven

17,000+ U.S. thoroughbred foals a year and a passionate, high-spending fan base — with no way in.

The path is clear

Reg CF access + an ATS partnership make compliant fractional issuance and secondary trading real today.

Revenue compounds

Primary issuance fees, recurring secondary-trading fees, and long-term asset appreciation — a marketplace flywheel.

The platform

Investing that feels familiar.

A modern brokerage experience — fractional ownership, real-time pricing, and secondary trading — on infrastructure built for regulated, tradable assets.

01
Source & acquire assets
02
Structure into shares
03
List on SEC-compliant venue
04
Trade & manage positions
05
Liquidity + engagement
The moat

We solved the hardest problem first: compliant infrastructure.

A securities framework built for regulatory compliance from day one · ATS partnership for tradable sports assets · Reg CF retail access at scale · blockchain settlement & transfer rails.

Anyone can build an app. Few can build the infrastructure.

Early traction
$404
CAC
7.4x
Projected LTV / CAC
98%
30-day retention
30%
Volume from secondary market

30+ horses listed · $1M+ in pipeline · $759 avg first deposit. Users aren't just joining — they're trading and returning.

The team & credibility
JF
Joel Funk
Founder & CEO
Built the regulatory architecture nobody solved. Legal · structure · compliance.
TT
Tom Taaffe
Co-Founder
Decades in racing & bloodstock; deep industry relationships.
BL
Brock Leach
Chief Strategy Officer
Scaled businesses $0 → MM. Growth, trading & marketplace strategy.
JN
James Navin
Chief Financial Officer
Silicon Valley finance exec — capital markets & forecasting.
"Relationships create access. Access creates inventory. Inventory creates marketplace value." — with Kenny McPeek, Kentucky Derby–winning trainer & MORNINGLINE.IO brand ambassador.
The raise
Seed Round
Raising $2.5M
Capital deployed toward growth, product, and the next asset class.
User growth & acquisition60%
Product & infrastructure15%
Team expansion15%
Inventory & marketplace supply5%
Regulatory / working capital5%
MONTH 2
Mobile
iOS + Android live
MONTH 4
700+
users · $2M+ deposits
MONTH 6
1,100+
users · $4M+ deposits
MONTH 8
1,600+
users · $7M+ deposits

Illustrative management objectives; actual results may differ. This teaser is confidential and is not an offer to sell or a solicitation to buy securities.

Why this is venture-scale

Build the infrastructure once.
Expand across every sports asset.

The hard part — compliant ownership, trading, settlement and a marketplace engine — is built and reusable. Each new sport is an incremental launch on the same rails, not a rebuild.

🛡️
Regulatory infrastructure
Securities framework, ATS & Reg CF — reused per asset class.
👤
Ownership infrastructure
Fractional issuance & cap-table rails, already live.
📈
Trading infrastructure
Order book, pricing & settlement engine.
🌐
Marketplace engine
Sourcing → listing → market-making, productized as a repeatable process.
Live today

Horse racing

$36B U.S. beachhead — assets listed, secondary market trading, revenue flowing.

Next

Motorsports

Team ownership, driver assets and alternative sports markets — same rails, new inventory.

Then

Broader sports assets

Athletes, teams, and media & collectible assets across the wider sports economy.

See the model, the moat, and the roadmap.

Grab time with the team, or reach the CEO directly — we'll open the data room.

Real racing. Real liquidity. Real opportunity.
Joel Funk · Founder & CEO · joel@morningline.io · morningline.io
Confidential investor teaser. Not an offer to sell or a solicitation to buy securities.