Divvy stepped up in place of traditional financing.” As a result, families were locked out of homeownership opportunities during a global pandemic-a time when they needed safety and shelter most. “During COVID-19, new mortgages became difficult to secure as banks tightened underwriting requirements for approvals.
“At the start of the pandemic, we made a commitment to help and support as many future homeowners as possible,” said Adena Hefets, co-founder and CEO of Divvy Homes. Divvy’s mission became even more crucial during COVID-19, when economic volatility caused the housing market to become increasingly challenging to access. By creating this new category, Divvy provides a bridge from renting to owning that allows the average American household to build towards homeownership in a more affordable and flexible manner. Led by Tiger Global Management, with participation from GGV Capital, Moore Specialty Credit, JAWS Ventures, and existing investors, the round brings the total debt and equity capital Divvy Homes has raised to over $500 million.įounded in 2017, Divvy supports future homeowners by purchasing a home on their behalf and renting it back to them while they build equity in the property.
#DIVVY 110M SERIESANN SERIES#
Divvy Homes announced a $110 million Series C equity funding round to ensure millions of Americans can access the country’s primary wealth-builder: homeownership.