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Divvy
Helping people become homeowners
- 201-500 employees
- B2C
- Sustainability
- Real Estate
- Financial Services
- Yerba Buena, San Francisco, CA
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Company mission
To make homeownership accessible to everyone.
Few candidates hear
back within 2 weeks
142% employee growth in 12 months
Our take
As mortgage rates have dropped to historic lows in recent years, banks tightened property purchase requirements, making the process more restrictive and complex for future homeowners. For this reason, homeownership has become even more inaccessible.
Utah-based Divvy provides a homeownership system that buys houses and rents them back to users to help them access equity for mortgage affordability. Customers choose a home which Divvy purchases on their behalf, with the customer providing up to 2% of upfront value. Renters can then cash out their equity to purchase the home within a three year period, or renew their contract.
In 2021 company was acquired by Bill.com for roughly $2.5 billion and with a network of 25,000 real estate professionals. However since then a cooling real estate market and operational issues leading to higher than market rents and inefficient servicing of its properties has hit the company. It has responded with a restructuring, reducing its headcount to align with market conditions and focus on its core activities. With plenty of runway and a positive revenue it seems likely Divvy will overcome the current difficulties affecting the company and the broader proptech sector.
Kirsty
Company Specialist at Welcome to the Jungle
Benefits
- 16 weeks paid parental leave & flexible return to work
- Recognized as Time 100’s most influential companies of 2022 & a Great Place to Work
- 90% paid medical benefits for you and your dependents (medical, dental, vision)
- Prioritizes health & wellness with flexible PTO, monthly mental health day, generous leave policies and company-sponsored Modern Health coaching and therapy sessions
- $250 monthly co-working space stipend
- 100% remote first culture, with an onsite option at our San Francisco or Denver offices
- 401k match & access to a financial planner
- $1,000 professional development stipend
- One-time $350 remote workspace allowance
- Competitive salary + equity
Funding (last 2 of 5 rounds)
Aug 2021
$200m
SERIES D
Feb 2021
$110m
SERIES C
Total funding: $390m
This company has top investors
Leadership
Adena Hefets
(CEO)Prior to founding Divvy Homes, they invested in early stage companies at DFJ, where they led their fintech investing practice. They started their career as an operator, being one of the early Product Managers at Square, where they helped build and grow Square Capital.
Brian Ma
(Board member)They are an entreprenuer and investor. Before co-founding Divvy, they founded Weave, a professional networking service. Brian was also the founder at Decide.com, an ecommerce price predictions enterprise, acquired by Ebay.
Nicholas Clark
(CTO)Former CTO of DoubleDutch, the first and only provider of cloud-based geosocial mobile applications for the enterprise. Prior to DoubleDutch, they were a Senior Development Engineer at Microsoft, working on Internet Explorer for 5 years, and Bing Mobile for 1 year. While at Microsoft, Nicholas founded and operated MobileSrc, a mobile development shop.