Work Here?
About Divvy Homes
Industries
Real Estate
Company Size
51-200
Company Stage
Debt Financing
Total Funding
$379.4M
Headquarters
San Francisco, California
Founded
2017
Overview
Divvy Homes provides a rent-to-own model that helps individuals and families achieve homeownership. The company purchases homes chosen by clients and rents them out, allowing clients to live in the home while saving for a down payment. A portion of the monthly rent contributes to this down payment, making it easier for clients to eventually buy the home. Divvy operates in various U.S. markets, including cities like Phoenix, Orlando, and Atlanta. Unlike traditional mortgage routes, Divvy offers a more flexible approach, enabling clients to gradually save while enjoying the benefits of living in their future home. Clients can choose a home from Divvy's listings, and once they are ready to buy, they can use their accumulated savings for the down payment and closing costs. If they decide not to purchase, they can walk away with their savings, minus a fee. Divvy's goal is to make homeownership accessible to those who may not qualify for a mortgage right away.
Simplify's Take
What believers are saying
- Growing interest in rent-to-own models among millennials facing housing affordability challenges.
- Acquisition by Brookfield Properties could provide additional resources and market expansion.
- DivvyUp program aligns with demand for educational resources in homeownership readiness.
What critics are saying
- Financial instability evidenced by acquisition in a 'fire sale' by Brookfield Properties.
- Multiple rounds of layoffs, including 95 employees in October 2023, may affect operations.
- High financial leverage due to over $1 billion in debt financing poses repayment challenges.
What makes Divvy Homes unique
- Divvy Homes offers a unique rent-to-own model for aspiring homeowners.
- The platform allows clients to select any home on the market for purchase.
- DivvyUp program prepares clients for mortgage readiness, enhancing their homeownership journey.
Help us improve and share your feedback! Did you find this helpful?
Funding
Total Funding
$379.4M
Above
Industry Average
Funded Over
6 Rounds
Tiger Global
Andreessen HorowitzBenefits
100% remote first culture
Flexible PTO
Monthly mental health day
Generous leave policies
Company-sponsored Modern Health coaching & therapy sessions
Equity
Paid medical benefits
401k match & access to a financial planner
Professional development stipend
Remote workspace allowance
Monthly co-working space stipend
Paid parental leave
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↓ -2%2 year growth
↓ -4%Founded in 2017 and based in San Francisco, Divvy had raised $1.2 billion in debt and equity financing, including a $750 million round of debt in October 2021.
Over four years, Divvy raised more than $400 million in venture capital, alongside $1 billion in debt financing.
In March, Divvy launched a subscription-based homeownership readiness program.
Brookfield Properties said to be acquiring Divvy Homes in 'fire sale'
Once valued at nearly $2 billion, Divvy Homes is being acquired in a fire sale by a division of Brookfield Properties.
There are no jobs for Divvy Homes right now.
Find jobs on Simplify and start your career today
About Divvy Homes
Industries
Real Estate
Company Size
51-200
Company Stage
Debt Financing
Total Funding
$379.4M
Headquarters
San Francisco, California
Founded
2017
There are no jobs for Divvy Homes right now.
Find jobs on Simplify and start your career today