The funds will allow Arrived to launch properties in new cities and provide customers with the opportunity to invest in short-term rentals
SEATTLE, May 17, 2022 /PRNewswire/ -- Arrived Homes ("Arrived"), the first SEC-qualified real estate investing platform that allows anyone to buy shares in single-family rentals starting at just $100, has raised a $25M Series A led by Forerunner Ventures.
Returning investors include 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), Spencer Rascoff (former CEO of Zillow), Core Innovation Capital, PSL Ventures and Neo (Ali Partovi's venture fund). The Series A fundraise follows Arrived's $37M in seed funding and debt financing from June 2021, and the company's $100M credit facility financing announcement from December 2021.
"Over the last year, we've been inspired by the stories we've heard from our investors about what it means to obtain the benefits of home ownership through our platform," said Ryan Frazier, CEO and co-founder of Arrived. "This new fundraise will allow us to continue breaking down barriers and help our customers access the wealth-building potential of single-family rentals."
Arrived is the first company with SEC approval to offer shares of individual homes. The $25M in funds will be used to further build out the Arrived team, secure properties in new markets, and provide customers with the option to invest in short-term rental properties on the platform.
"Today's investors want to be empowered through the self-service tools they've grown to love, like Coinbase and Robinhood," said Brian O'Malley, Partner at Forerunner Ventures. "Arrived Homes is the only platform that allows all types of retail investors to get the inflation-hedged, cash-flow generating benefits of real estate, which will be increasingly important as debt continues to underperform and the crypto and equity markets suffer from increased volatility."
To date, Arrived has fully funded over 102 properties in Alabama, Arizona, Arkansas, Colorado, Georgia, North Carolina, and South Carolina, for a total of over $40M in rental homes across 16 metropolitan areas. In the coming months, Arrived will expand its offerings to include single-family rental and short-term rental properties in Florida, Texas, Nevada, and Indiana.
Arrived Homes is a Seattle-based real estate investing platform that makes ownership of rental properties possible for anyone and everyone. At Arrived Homes, anybody can buy shares in rental properties starting with $100 and start earning money from day one. Arrived's goal is to make real estate investing easy and accessible to millions of people who don't have the expertise, time, or large amounts of capital needed to buy a rental property on their own. Arrived manages the operational work so that investors can sit back and collect passive rental income and their share of the home's appreciation. For more information please visit: www.arrivedhomes.com.
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SOURCE Arrived Homes LLC