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🦄 Unicorner Startup of the Week:
Arrived Homes
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✍️ Notes From The Editors
What are some recent companies that have raised that you'd like us to write about?
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Invest in shares of homes
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Arrived Homes allows investors to buy shares of rental homes. The company aims to find the best properties for investment using data science and tries to minimize maintenance costs. One way it does this is by having tenants also be investors in their own property. Customers can then purchase shares in the house from the app for a minimum of $100.
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💰 Business Model
Arrived makes money from three sources. It collects a real estate agent rebate from the property seller when the purchase is made, charges a sourcing fee for charges incurred while financing and holding the house while it is prepared for rental (included in the share price and listed in the property’s page details), and collects an annual Asset Management Fee paid out of the property’s income and based on the capital contributions of investors (also listed on the details page).
📈 Traction and Fundraising
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Secured 30+ properties in Arkansas, North Carolina, and South Carolina
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Raised $10 million in seed and $27 million in debt financing led by Core Innovation Capital with participation from Bezos Expeditions, Time Ventures, Zillow founder/CEO Spencer Rascoff, Uber CEO Dara Khosrowshahi, Hadi Partovi, and Neo
👫 Founder(s)
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Alejandro Chouza, COO: Previously VP Operations @ OYO USA, General Manager @ Uber, Founder & CEO @ Discover A Hobby, Senior Product Manager @ Microsoft, Venture Development and Innovation MBA @ Wharton, Entrepreneurship BS @ Babson College
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Kenny Cason, CTO: Previously Senior Staff Software Engineer @ Sprout Social, Co-founder & CTO @ DataRank (Acquired by Simply Measured), SWE @ Lockheed Martin, CS @ University of Arkansas
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Ryan Frazier, CEO: Previously GM @ Sprout Social, Co-founder & CEO @ DataRank (Acquired by Simply Measured), International Business & Marketing, Economics, Japanese @ University of Arkansas
🔮 Our Analysis
Real estate is one of the best forms of investment. However, there is a large barrier to investing in real estate. Some of these include a high price point, maintenance fees, time spent visiting and maintaining the property, location, and more. Arrived takes care of all this by allowing the investor to purchase shares of a property with a minimum of $100 and taking care of all maintenance fees. This means the investor never has to visit the property, saving time and optionally allowing them to invest in distant properties. In addition, all properties are vetted by Arrived with technologies to decrease risk and increase returns, building trust in the service. Since all tenants are investors in the property, they also have more of an incentive to keep the home well-maintained and decrease maintenance fees. Arrived is diversifying how the average person can invest, and doing so in a lucrative marketplace makes the company extremely exciting.
📚 Further Reading
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Made with 💜 by the Unicorner Team 🦄
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