“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. 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. 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. Freelance Writers: How To Pitch Crunchbase Newsĭivvy 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.
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