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DIVVY CRUNCHBASE 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.

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.

Their services include homemade food marketplace, connecting home cooks with. “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. DishDivvy was founded on the simple premise of solving the dinner dilemma. 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. 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. 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.

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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. After covering the Ramp round in December and noting Divvy’s metrics at the same time, both Airbase ( more here) and Teampay ( more here) reached out with numbers of their own.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. But that so many companies in its sector are managing similarly strong-to-line expansion stands out. That Divvy was able to raise so much capital given its recent growth rates is not surprising. At the time, Brex, which also competes in the corporate spend space, declined to share metrics. At the same time Divvy shared with TechCrunch that it had seen 120% customer growth and over 100% growth in platform spend in 2020, compared to 2019. CompetitionĪ few weeks back Ramp, another corporate-cards-and-software startup, announced a $30 million raise and that it had reached $100 million in spend through its service in its first 18 months of business. Let’s take a look at who Divvy is taking on with its new round. The new capital for Divvy comes after multiple other competitors recently announced fresh funds itself, for example. Divvy represents an entirely new way to think about homeownership in America re-igniting the dream of homeownership and providing a real wealth-building opportunity along the way.

DIVVY CRUNCHBASE SOFTWARE

Utah’s Divvy raises $200M to eliminate expense reportsĭivvy’s market, the corporate spend management space - broadly, corporate cards and software that helps firms manage and limit expenses - is incredibly active today as businesses look to modernize their financial infrastructure.

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