Arrival raises $118m from BlackRock to fund global expansion and US manufacturing.
The growth private equity investment was led by BlackRock to support the launch of the company first US microfactory.
Arrival is a financial technology company that simplifies utility setup and bill consolidation for private renters and property operators. The platform streamlines household finances and aims to reduce administrative friction in the rental market.
Arrival has secured $118m in a growth private equity round from funds managed by BlackRock. The capital will be deployed to accelerate international expansion and scale up production capabilities, notably the establishment of a new manufacturing unit in South Carolina. Existing backers including Hyundai Motor Company, Kia Motors Corporation and UPS also maintain ties with the business as it grows its commercial footprint.
Use of funds
- 01Expand into international markets
- 02Scale operations