SEATTLE, June 16, 2021 /PRNewswire/ — Arrived Homes (“Arrived”), the ground-breaking real estate investing platform that makes ownership of rental properties a possibility for everyone, announced today that it has raised $37 million in a combination of seed funding and debt financing.
The round is comprised of $10 million in equity financing and $27 million in debt financing. This is the company’s first financing round and was led by Core Innovation Capital with participation from Bezos Expeditions (the personal investment company of Jeff Bezos), Good Friends (a venture fund run by the CEOs and co-founders of Warby Parker, Harry’s and Allbirds), Time Ventures (the investment fund of Marc Benioff), Spencer Rascoff (General Partner of 75 & Sunny Ventures and former CEO of Zillow), Dara Khosrowshahi (CEO of Uber), Hadi Partovi (CEO and founder of Code.org), Fred Tuomi (Former CEO of Invitation Homes), PSL Ventures and Neo (Ali Partovi’s venture fund).
The $37 million in funds will be used to scale the Arrived team and build up the company’s supply of rental homes across the country. To date, Arrived has secured over 30 properties throughout Arkansas, North Carolina, and South Carolina, which are either fully funded or are being prepared to offer to investors. It costs as little as $100 to invest in an Arrived rental property, with investors receiving rental income quarterly and their share of the property appreciation.
Arrived is the first and only company with SEC qualified offerings allowing anyone to buy shares in individual homes. The company’s platform manages end-to-end all elements of the investment experience, from finding the most promising investment properties — based on home appreciation and local rental cash-flow potential — to the management of the day-to-day operations.
“Investing in real estate is synonymous with the American dream, yet very few people are in a financial position to buy whole homes or have the time to invest in and manage rental properties,” said Ryan Frazier, CEO and co-founder of Arrived. “With Arrived, we’re breaking down the barriers to investing in rental homes, by taking a process that typically takes months and making it accessible in less than 4 minutes, starting from just $100. We’re really passionate about the opportunity to help millions of people better access this historically great asset class.”
“The Arrived team is making an iconic and attractive asset class available to millions of everyday Americans: single family rental,” said Arjan Schütte, Founder and Managing Partner at Core Innovation Capital. “Through Arrived, retail investors can finally gain access to the more consistent rental income and property appreciation that comes from real estate investing, for as little as $100. They have created an entirely new category of consumer investing and we’re proud to help them democratize wealth creation in a way that’s never been done before.”
“Real estate has long been a vehicle for wealthy people to diversify and grow their portfolios,” said Spencer Rascoff, co-founding General Partner of 75 & Sunny Ventures and former CEO of Zillow. “The past year has brought huge strides in the democratization of investing, including in real estate. Arrived makes investing in a rental home accessible to anyone with $100 and four minutes to spare. That’s incredibly empowering.”
About The Team: Arrived was founded by Ryan Frazier (CEO), Kenny Cason (CTO), and Alejandro Chouza (COO) and is based in Seattle Washington.
About Arrived Homes: Arrived Homes is a Seattle-based real-estate investing platform that makes ownership of rental properties possible for anyone and everyone. At Arrived, our mission is to empower the world to build wealth through modern real estate investing. www.arrivedhomes.com
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SOURCE Arrived Homes LLC