Meet the startup that's on a mission to help 100,000 people buy homes in the next 5 years, and recently raised $30 million to do so

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Divvy

• Divvy provides alternative financing options for potential home buyers who don't qualify for traditional mortgages. 
• Divvy buys homes outright and allows customers to pay it back in a series of monthly payments — 25% of which goes toward building equity and 75% goes toward paying “rent." 
• The company's COO, Adena Hefets, told us: "We want [Divvy] to be the stepping stone that allows people to transition from renting to eventually owning their own homes.”
• In October, Divvy raised a $30 million Series A round led by Andreessen Horowitz. 
• The company operates in three cities currently (Cleveland, Memphis, and Atlanta) and in its first year, helped buy homes for over 100 people. 

 

When Adena Hefets was growing up, her parents weren’t able to get a traditional mortgage.

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