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Divvy Homes Announces $735M Debt Financing Just Two Months After Raising $200 Million In Series D

Oct 12, 2021•over 3 years ago

Amount Raised

$735 Million

Round Type

series d

San Francisco

Description

Divvy Homes, a market leader in the proptech industry, today announced that it has entered into new debt facilities totaling $735M. Combined with $200M raised two months ago from the Series D, Divvy Homes is well-capitalized to pursue its mission of making homeownership accessible to everyone. This debt financing will allow Divvy Homes to provide more Americans with a path to homeownership through its innovative three-year program. The funds will be used to refinance two existing debt facilities and provide substantial incremental capacity to buy new homes, supporting Divvy's 10-year goal of helping more than 100,000 families become financially responsible homeowners.

Company Information

Company

Divvy Homes

Location

San Francisco, California, United States

About

Divvy Homes is on a mission to make homeownership more accessible to American families. The program is currently available across 16 major US metropolitan areas: Atlanta, GA; Cincinnati, OH; Cleveland, OH; Dallas, TX; Denver, CO; Ft Lauderdale, FL; Houston, TX; Jacksonville, FL; Memphis, TN; Minneapolis, MN; Miami, FL; Orlando, FL; Phoenix, AZ; San Antonio, TX; St. Louis, MO; and Tampa, FL. Divvy Homes is backed by Andreessen Horowitz, Caffeinated Capital, GGV Capital, GIC, JAWS Ventures, Lennar, Moore Specialty Credit, SciFi VC, and Tiger Global Management. Divvy Homes was incubated in Max Levchin's startup studio HVF and co-founded by Adena Hefets, Nick Clark, and Alex Klarfeld.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech