![]() ![]() It focuses on closing the disparity in housing affordability by providing the average American households with trustworthy and effortless homeownership items. From supplying realtors to acting as a lender, Divvy wishes to "create a complete end-to-end experience." This tech-enabled homeownership platform’s annual revenue is well above $20 million. With this fresh round of funding, the 80-person startup ideates to take its service a step ahead by launching associated product offerings to take customers throughout the home buying cycle. Divvy Homes is currently available across 16 major US metropolitan areas and last raised $43 million in Series B funding backed by investors including Caffeinated Capital and Andreessen Horowitz. Divvy extended operations from eight to 16 markets over the course of 2020 and supported five times as many homes as it had during pre-pandemic times. Divvy Inc., a startup with a cloud service for managing corporate spending, this morning divulged that it has closed a 165 million funding round at a 1.6 billion valuation. If clients change their minds, they can walk away from home and get their money cashed out.ĭuring COVID-19 global pandemic, when economic volatility caused the real estate and housing industry to become extremely difficult to access, Divvy's mission became even more significant and essential. About ¼ of every monthly payment goes toward your savings for a mortgage of your own. What’s unique about Divvy is that we care about your long-term success: You get to save for a future down payment. During their three-year lease, a client builds up to 10 percent of the value of the house, although they can purchase the home at any time. Divvy makes money from your monthly rent payments and from the home’s appreciation over time. ![]() Divvy Homes then rents the home back to the customers with about 25 percent of the monthly payment going toward a future down payment as they develop equity in the property. The company, now led by the CEO, Adena Hefets, helps potential homeowners buy a home on their behalf, with the customers contributing about 1 percent to 2 percent of the property’s value. Divvy Homes has raised debt, and equity capital of over $500 million in total, inclusive of the new funding, was earned in equity and two-thirds in debt with approximately one-third of that.ĭivvy Homes was started in 2017 and was founded by Alex Klarfeld, Nick Clark and Adena Hefets. Fintech Sequoia, Jay-Z, Will Smith back Landis’ 165M debt, equity round toward making homeownership accessible to everyone Christine Hall christinemhall / 6:00 AM PDT JComment. Investment firm Tiger Global Management LLC led the funding round along with Jaws Ventures, Moore Specialty Credit, GGV Capital, and other current investors in the company. The company plans to use the raised equity capital in boosting business growth to serve more than 70 million Americans in over 20 markets beyond cities such as Tampa, Dallas, Denver and Atlanta by the end of the year. San Francisco-based real estate startup Divvy Homes announced on February 2, 2021, that it raised $110m in Series C equity funding. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |