Divvy, founded in 2017 by Brian Ma, Adena Hefets, Alex Klarfeld, Nicholas Clark, and Tiffany Li, is a San Francisco-based company offering rent-to-buy solutions for residential properties. The platform allows users to select a home, lease it on an annual basis, and convert lease payments into a down payment if they choose to buy. Users who opt not to purchase the home can reclaim their accumulated equity.
What Is Divvy and What Does It Do?
Divvy, founded in 2017 by Brian Ma, Adena Hefets, Alex Klarfeld, Nicholas Clark, and Tiffany Li, is a San Francisco-based company headquartered in San Francisco, United States. The company provides an online rent-to-buy platform for residential properties.
Users can lease a selected home, make monthly payments, and convert those payments into a down payment to purchase the property. If users decide not to buy, they can reclaim their monthly equity contributions.
With a workforce of 71 employees, Divvy focuses on providing flexible, tech-driven solutions for aspiring homeowners, simplifying the path from renting to homeownership while reducing barriers to entry.
How Much Funding Has Divvy Raised?
*1. Series B* • Amount Raised: $43M
• Date: September 2019
• Lead Investors: GIC, Lennar, Andreessen Horowitz, Max Levchin, Caffeinated Capital
• Motivation: To expand property acquisition and grow the rent-to-buy user base.
*2. Series C* • Amount Raised: $110M
• Date: February 2021
• Lead Investors: Tiger Global Management, GGV Capital, Andreessen Horowitz, Moore Capital Management
• Motivation: To scale operations and enhance platform features.
*3. Series D* • Amount Raised: $200M
• Date: August 2021
• Lead Investors: Tiger Global Management, Caffeinated Capital, Andreessen Horowitz, GGV Capital, GIC
• Motivation: To accelerate growth, expand property inventory, and refine technology.
Total Funding Raised: $1.2 Billion
Current Valuation: $2 Billion (as of August 2021)
Latest Funding Date: August 2021
Key Investors
*1. Tiger Global Management* • Details: Leading investment firm focusing on public and private technology companies globally.
• Investment Focus Areas: Technology, growth-stage companies, software.
• Notable Investments: Divvy, Stripe, UiPath.
*2. GIC* • Details: Sovereign wealth fund of Singapore managing global assets across multiple sectors.
• Investment Focus Areas: Real estate, private equity, infrastructure.
• Notable Investments: Divvy, Airbnb, Alibaba.
*3. Andreessen Horowitz* • Details: Venture capital firm investing in early to late-stage technology companies.
• Investment Focus Areas: Software, consumer internet, fintech.
• Notable Investments: Facebook, Coinbase, Slack.
*4. GGV Capital* • Details: Global venture capital firm investing in early and growth-stage companies.
• Investment Focus Areas: Technology, consumer, SaaS, fintech.
• Notable Investments: Divvy, Alibaba, Square.
Where Is Divvy’s Headquarters?
Divvy is headquartered in San Francisco, United States, giving it access to Silicon Valley’s technology ecosystem, talent, and real estate innovation opportunities.
What’s Next for Divvy?
Divvy plans to expand its rent-to-buy offerings across more U.S. markets, acquire additional properties, and enhance its digital platform for a better user experience. With a $2B valuation and $1.2B raised, Divvy is positioned to make homeownership more accessible, flexible, and technology-driven for aspiring buyers nationwide.
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