![]() ![]() “Over the next 10 years, we believe Divvy Homes has the potential to help more than 100,000 families become financially responsible homeowners,” Scott Shleifer, a partner at Tiger Global, said in a statement emailed to Bloomberg. The Company offers a tech enabled homeownership platform that allows renters to build equity. ![]() “We’re aiming to bring legitimacy to alternative home financing options,” Chief Executive Officer Adena Hefets said to Bloomberg.Īmidst bullish residential prices, Divvy’s product has proved very popular – the number of cumulative qualified applicants and acquisitions of homes per month has tripled since February, according to Hefets. doing business as Divvy Homes, provides real estate services. The method allows more people to be able to buy a home, even though their finances and credit record render them ineligible for a mortgage from the traditional financial system. The price doesn’t change even though the home may increase in value. The new round of funding essentially quadrupled the startup’s valuation. About 25% of the monthly payment is earmarked as the buyers’ “savings” to be ultimately applied towards a down payment.ĭivvy presets a price at which the customer can buy the home off it. Divvy Homes CEO Adena Hefets (Twitter) Proptech startup Divvy Homes scored another big round of fundraising, bringing the company’s valuation to 2 billion. The buyer then moves into the house and commences monthly payments to Divvy. The buyer only makes a down payment of 1-2% of the cost. Property Tech Startup Divvy Homes Raises 200M At 2B Valuation. Tiger Global Management Tiger Global Management is an investment firm that deploys capital globally in both public and. Divvy Homes goes from 2B valuation to third round of layoffs in a year Divvy Homes, the rent-to-own startup that gained attention and investment from Tiger Global and other high-profile investors, is laying off 94 employees. Divvy Homes raised 200000000 on in Series D. Divvy pays for the home in full including all fees, closing costs, taxes, and insurance. Investors Tiger Global Management, Caffeinated Capital, Andreessen Horowitz. ![]() On approval, they are given a budget to find a home. Their latest funding was raised on from a Debt Financing round. ( Bloomberg) How it worksĪ prospective homeowner who is unable to secure a mortgage and buy a home can apply to Divvy. Investors 16 Funding Divvy Homes has raised a total of 1.2B in funding over 7 rounds. Andreessen Horowitz, Singapore’s GIC, GGV Capital, and Moore Specialty Credit also participated in the round. Property technology startup Divvy Homes, which helps people who don’t qualify for a mortgage to own homes, raised $200 million in a round co-led by existing investors Tiger Global Management and Caffeinated Capital. Divvy Homes quadrupled its valuation to $2 billion. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |