The company’s high-profile squabble with Cardinale recently shed light on the struggles some Atlantans are facing when trying to find creative ways to enter the homebuying fold.
“We will continue to grow our team throughout the country so we can better serve our customers and agents.Matthew Cardinale, a homebuyer who’s been embroiled in a lawsuit with his rent-to-own landlord Divvy Homes, reached a tentative settlement this week with the company, signaling a possible end to the legal melee.ĭivvy, a San Francisco-based tech startup, recently introduced to Atlanta its unique spin on homebuying.
“Our diverse, top-notch team is deeply experienced and committed to our mission of broadening access to homeownership,” said Hefets. Recent price volatility is helping to entice potential borrowers currently shut out of the purchasing market into renting the home of their dreams while saving along the way. Given its strategic business model (and the housing market’s overwhelming demand) Divvy’s numbers line up. Torie Runzel – promoted to Vice President, PeopleĪccording to Divvy, the company Divvy closed more homes in 2021 than in the four years since its founding and doubled its market share in the last 10 months.Spencer Thorp – promoted to Vice President, Home Operations.Pete Nichols – hired as Vice President, Engineering.Molly Nelson – hired as Vice President, Sales.Kyle Zink – hired as Vice President, Marketing & Communications.Bill Hoch – promoted to Vice President, Strategic Finance.Alex Kaufman – hired as Vice President, Data Science & Analytics.On top of its executive promotions, Divvy also appointed seven new vice presidents of which are listed below: As for Lin, the new CPO delivered a 40% increase in approval rates for self-employed customers as well as revamped Divvy’s agent products.
Divvy homes series#
“Fueled by our Series D funding and debt financing, we’re poised for accelerated growth,” said Hefets.Īlongside Lee’s appointment, Divvy also promoted former VP of sales and marketing Lucia Franzese to Chief Revenue Officer, and Shirley Lin, former VP of product to Chief Product Officer.Īccording to Divvy, under Franzese’s leaderships, the proptech’s sales and marketing teams have grown the number of homes closed 25x over and have onboarded nearly 30,000 partner agents. The latest round, co-led by Tiger Global Management and Caffeinated Capital, nearly quadrupled Divvy’s valuation to $2 billion. Lee’s appointment arrives roughly five months after the company’s oversubscribed $200 million Series D round in August. In his new role, Lee will oversee all operational functions of the business and provide organizational strategy. Prior to Blackstone, Lee worked within private equity and investment banking at TPG Capital and Merrill Lynch. The San Francisco-based startup announced John Lee will join Divvy Homes as the company’s new chief operating officer after serving eight years at Blackstone where he operated as a managing director in the private equity group – his latest position marking the third time Lee has worked with Divvy CEO Adena Hefets. Divvy Homes, the proptech that buys properties on behalf of renters and guides them to eventual ownership, is beefing up its executive quarters.
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