# Divvy Homes

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/divvy-homes

- Industry: Real Estate Development & Operating Companies
- Headquarters: San Francisco, US
- Website: www.divvyhomes.com
- Total disclosed funding: $396M
- Latest round: Series D (Aug 3, 2021)
- Investors on record: 11

## About

Founded in 2017 and based in California, US, Divvy Homes, Inc., doing business as Divvy and Divvy Homes operates as a provider of a rent-to-own platform allowing renters to build equity credits as they rent. The company was founded by Adena Hefets, Alex Klarfeld, Brian Ma, and Nicholas Clark. In August 2021, Divvy Homes, Inc. raised USD 200 million in Series D funding by investors Caffeinated Capital, Tiger Global Management, Andreessen Horowitz, GGV Capital, GIC, and Moore Capital Management - Private Equity which valued the company at approximately USD 2 billion.

The company selects any home on the market and buys it for the renter who in turn contributes an initial 1-2% of the home value and allows them to own a house, enabling customers to close the housing affordability gap by providing homeownership products for families. Part of the rent that the company charges go toward building up the savings of the customers in the house so they can put a down payment (estimated at 10% value of the home) on to purchase from Divvy later.

The company generates revenue from monthly rent payments and from the home’s appreciation over time. About 1/4 of every monthly payment goes toward the client's savings for a down payment.

The company plans to use the series D funding in part to expand to more markets serving more than 70 million customers in over 20 markets beyond cities such as Atlanta, Denver, Dallas, and Tampa. The company also plans to launch ancillary product offerings to take buyers throughout the home-buying journey.

## Funding rounds

- Series D, Aug 3, 2021, $190M — GIC, Granite Asia, Moore Capital Management - Private Equity, Tiger Global Management, Andreessen Horowitz, Caffeinated Capital
- Series C, Nov 9, 2020, $110M — Granite Asia, Moore Capital Management - Private Equity, Tiger Global Management, Andreessen Horowitz, JAWS
- Series B, Jun 7, 2019, $52M — GIC, Andreessen Horowitz, Caffeinated Capital, Lennar Corporation
- Series A, Oct 9, 2018, $30M — Draper Fisher Jurvetson, Andreessen Horowitz, Caffeinated Capital, SciFi VC
- Series A, Jun 4, 2018, $11M — Draper Fisher Jurvetson, Caffeinated Capital, Hard Valuable Fun
- Seed, Jul 15, 2017, $3M — Draper Fisher Jurvetson, Caffeinated Capital, SciFi VC

## Investors

- Draper Fisher Jurvetson (https://capitalatlas.ai/funds/draper-fisher-jurvetson) — Seed, Series A
- Caffeinated Capital (https://capitalatlas.ai/funds/caffeinated-capital) — Seed, Series A, Series B, Series D
- SciFi VC (https://capitalatlas.ai/funds/scifi-vc) — Seed, Series A
- Hard Valuable Fun — Series A
- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Series A, Series B, Series C, Series D
- GIC — Series B, Series D
- Lennar Corporation — Series B
- Granite Asia (https://capitalatlas.ai/funds/granite-asia) — Series C, Series D
- Moore Capital Management - Private Equity — Series C, Series D
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series C, Series D
- JAWS — Series C