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Rent-to-own startup Divvy Homes selling to Brookfield for about $1 billion
After a turbulent few years for proptech, Divvy Homes announced Wednesday that it is selling to a division of Brookfield Properties for about $1 billion.
After a turbulent few years for companies operating in the real estate market, Divvy Homes announced Wednesday that it is getting acquired by a division of Brookfield Properties for about $1 billion. The company ran into some hiccups when mortgage interest rates began to surge in 2022, conducting three known rounds of layoffs in a year’s time. Founded in 2016, the once-buzzy startup had raised more than $700 million in debt and equity from well-known investors such as Tiger Global Management, GGV Capital, and Andreessen Horowitz (a16z), among others.
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