Arrived, a Seattle-based real estate technology startup that enables individuals to invest in rental properties through fractional ownership, has raised $27 million in new funding. The round was led by Neo, with participation from Forerunner Ventures, Bezos Expeditions, Core, and other existing investors. This brings the company’s total funding to more than $60 million.
Arrived allows users to buy fractional shares of single-family rentals and vacation properties with a minimum investment of $100. The company positions this model as an accessible way for individuals to gain exposure to residential real estate without managing tenants or securing full mortgages.
Arrived sources and acquires the homes, manages financing, coordinates renovations, and oversees property management. Investors can choose individual homes or diversified funds listed on the platform. Returns come from quarterly rental dividends and a share of property appreciation once homes are sold after a multi-year holding period.
Since its 2019 launch, the platform has attracted nearly 900,000 registered investors. Arrived reports more than $340 million invested, over $55 million distributed to investors, and more than 550 properties funded across 65 U.S. markets.
The company announced the official rollout of its new “Secondary Market,” described as a peer-to-peer system where investors can buy and sell shares of rental homes. The feature went live earlier this year and recorded more than 57,000 buy and sell orders during its first three weeks.
“We believe real estate investing is going to move online,” CEO and co-founder Ryan Frazier said in a statement. “Our vision is a future where real estate investing feels just like investing in public companies — where anyone can buy and sell shares of properties in minutes, not months.”
Arrived generates revenue through several fee streams tied to property acquisition and management. These include:
A one-time sourcing or acquisition fee applied at purchase.
An ongoing assets-under-management (AUM) fee, billed either quarterly or annually.
Real estate agent rebate income, received from sellers’ agents during property acquisition.
Earlier this year, the company also introduced the “Seattle City Fund,” a product designed to let investors focus on a specific metro’s housing market without selecting individual properties.
Arrived is part of a broader group of companies applying fintech and fractional-ownership models to residential real estate. Platforms such as Landa and Lofty offer similar investment structures, with some describing their approach as a “stock market” for property assets.
However, the model continues to draw criticism. Some housing experts argue that turning more single-family homes into investment products may add pressure to already constrained housing markets, potentially affecting affordability.
Arrived last raised a $25 million Series A in 2022. The company did not disclose its updated valuation.
The leadership team includes CEO Ryan Frazier, CTO Kenny Cason, and COO Alejandro Chouza. Past strategic investors include Marc Benioff, Spencer Rascoff, and Dara Khosrowshahi.
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