Divvy Homes is a real estate tech company addresses the housing affordability crisis across the U.S. with a flexible homeownership model.
Divvy Homes is building a different pathway to homeownership –– one that's more affordable, more flexible, and a better fit for the modern American family.
Divvy was incubated in 2017, Max Levchin's startup studio HVF, and co-founded by Adena Hefets, Nick Clark and Alex Klarfeld. The company is headquartered in San Francisco, California.
Divvy supports future homeowners by purchasing a home on their behalf and renting it back to them while they build equity in the property. By creating this new category, Divvy provides a bridge from renting to owning that allows the average American household to build towards homeownership in a more affordable and flexible manner.
Divvy partners with customers along every step of the home buying process, with the goal of helping renters transition into homeownership. Buying a home with Divvy starts with a five-minute application that results in an approved home buying budget and an introduction to a real estate agent.
Divvy counts more than 750,000 customers in 16 major markets, including Atlanta, Houston and Cleveland. Almost 25,000 real estate agents work with the startup, which holds about $850 million in debt.
Divvy is backed by Andreessen Horowitz, GIC, Tiger Global Management, GGV Capital, Moore Specialty Credit, Caffeinated Capital, Lennar, JAWS Ventures, and others. The company raised $200M in Series D round on Aug 13, 2021. This brings Divvy's total funding to $490M to date. The new round mints Divvy a unicorn with $2B valuation post-money.