![]() ![]() Divvy 110m seriesann azevedotechcrunch series#The company, which is based in San Francisco and was founded in 2017, most recently raised a $43 million Series B in September 2019 and is backed by investors including Andreessen Horowitz and Caffeinated Capital. But Divvy Homes’ Series C is the largest venture round raised by a real estate startup in the past month, according to Crunchbase data. Things to know about mexicobased series anthemis startupsann azevedotechcrunch Learn More about flat. Several other startups in the homebuying space have recently raised notable sums of venture funding, including Doorvest, Propertymate and Rendin. Existing home sales in 2020 were the highest they’d been since 2006, according to the National Association of Realtors, and home sales in total rose more than 22 percent year over year. Residential home sales in general have been on the rise since the pandemic sparked the work-from-home era and interest rates remain low. “It just creates a more consistent customer experience to not be using as many third parties and bring a lot of this stuff in house,” Hefets said.ĭivvy says it financed five times the number of home sales last year compared to before the COVID-19 pandemic. The company also plans to offer more adjacent services for customers looking for a new home, such as an in-house real estate agent, and is exploring adding services like title and escrow, along with mortgage services. But if there’s any silver lining in the global crisis, it could be that it’s less taboo to talk about feeling anxious. ![]() With the new funding, the company plans to expand into four more markets and add to its 80-employee team, CEO Adena Hefets said in an interview with Crunchbase News. The COVID-19 pandemic has undoubtedly been devastating on many levels. If a customer decides not to buy the home, they are able to cash out their savings, the company said.ĭivvy currently operates in 16 cities across the United States, including Atlanta, Dallas, Phoenix and Miami. Rent-to-own startup Divvy scores 110M in latest funding round The company plans to use the new capital to expand into new markets and launch additional products to create an end-to-end. Divvy 110m seriesann azevedotechcrunch free#Customers then rent the home, with about 25 percent of the monthly payment going toward a future down payment, according to the company.Ĭlients can build up to 10 percent of the value of the home over the course of their three-year lease, but are also free to buy the home at any point during the lease. Divvy Homes, a startup that facilitates rent-to-own home purchases, said Tuesday it’s raised $110 million in a Series C round.Ĭustomers work with Divvy to find a home, and then the company purchases the home on their behalf, with the customer contributing about 1 percent to 2 percent of the home’s value. ![]()
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