Arrived launches secondary market for real estate

Arrived, a 2021 startup letting people buy $100 shares of rental homes, raised $27 million led by Neo to launch a secondary market that trades stakes in individual houses in minutes. Backers describe it as a stock market for real estate; in its first three weeks, users placed 57,000 buy and sell orders. Arrived now counts roughly 500 properties in 65 cities and total funding of $61.7 million, with backers including Bezos Expeditions. More than 850,000 investors have put $330 million into its homes as it shuns long term leverage amid high prices and rates.