We are a homeownership program, not a landlord.”ĭivvy Homes’ Series D is a testament to the rapid growth achieved over the past six months: We are a tech-driven real estate platform, not a rental business. “We’re the first real estate platform that helps you save for a down payment while you live in your dream home. More than ever before, Americans are having to put their dreams of homeownership on hold,” said Adena Hefets, co-founder and CEO of Divvy Homes. This trend has only been exacerbated by COVID. homeownership has been at record lows throughout this decade because of rising home prices and stricter underwriting. I’m never going to get rid of this house because it changed my life completely.” Divvy Homes exists to serve customers like Janese, helping Americans like her facilitate homeownership and boost wealth creation in America. In February 2020 I moved into my house with Divvy Homes, and I ended up buying it in June 2020.
I knew I couldn’t purchase a home, but I thought I could get myself into a better situation. Janese Scott, a Divvy Homes success story, describes her experience: “My credit wasn’t the best. Customers were immediately drawn to Divvy Homes’ intuitive tech-enabled application, flexible and innovative underwriting, and its customer-centric approach along every step of the home buying process. Over 750,000 Americans have applied to Divvy Homes since 2017, when it was founded with a mission of creating a new path to homeownership through its innovative three-year homeownership program. This latest round creates the runway for Divvy Homes to expand its footprint and drive continued growth.” “It’s clear that Divvy Homes is leading the creation of a new category that redefines the way Americans access homeownership. “Over the next 10 years, we believe Divvy Homes has the potential to help more than one hundred thousand families become financially responsible homeowners,” says Scott Shleifer, Partner, Tiger Global. Led by Tiger Global Management and Caffeinated Capital, with participation from existing investors including Andreessen Horowitz, GGV Capital, GIC, and Moore Specialty Credit, the round allows Divvy Homes to provide Americans with unprecedented access to the country’s primary wealth-builder: homeownership.
Divvy Homes’ accelerating growth – with more closed homes in 2021 than cumulative closings since its founding in 2017 – caught the attention of its lead investors, who preempted the Series D and valued Divvy Homes at approximately $2B. SAN FRANCISCO– Aug– Just six months after announcing its Series C, Divvy Homes has completed a $200 million Series D equity financing that further extends Divvy Homes’ position as a market leader in the proptech industry. Fueled by Strong Customer Demand and Market Growth, Divvy Homes Achieves Unicorn Status as Existing Investors Tiger Global and Caffeinated Capital Lead Round