4/19/2023 0 Comments Divvy crunchbase![]() It’s also grown its headcount by five times to 40 compared to the same time last year. The company saw its revenue grow 10 times in August year-over-year, according to CEO and co-founder Adena Hefets. ![]() In a statement, Alex Rampell, a general partner at Andreessen Horowitz, said a16z was “confident” that Divvy would “continue causing meaningful disruption in the real estate space, given its unique business model and real impact on wealth creation in America.” New investors GIC, a Singaporean sovereign wealth fund, and homebuilder Lennar (via its venture arm) joined existing investors Andreessen Horowitz (a16z), Caffeinated Capital, and Affirm CEO Max Levchin in putting money into the latest round. It started off as a $20M debt facility raised along with the company’s Series A in 2018, but increased over the last year as Divvy has “proven” its performance, according to the company. The San Francisco-based company also had previously raised more than $120 million in a debt facility from Cross River Bank + Atalaya. Divvy also raised $10 million in an a16z-led Series A last October. The startup’s combined equity and debt raised since its inception in 2017 is now “nearing $200 million,” it said. Divvy claims to be working to “create a world where every person can own their forever home ” or, essentially, it wants to make homeownership more accessible. Today, Divvy Homes announced a $43M Series B round to help in its mission to help more Americans “move from renters to owners.”ĭivvy differentiates itself from the slew of real estate tech companies claiming to be digitizing “the archaic, data-heavy processes buyers encounter along the way” by taking things “further.” The company works with renters who want to become homeowners by buying the home they want and renting it back to them for three years “while the savings needed to own it themselves.”Įvery company has a mission. Freelance Writers: How To Pitch Crunchbase NewsĪnother day, another real estate tech startup raises money.
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