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Tiger Bets on Divvy Homes as Startup Hits $2 Billion Valuation

  • San Francisco company seeks to enable renters to own homes
  • Caffeinated Capital, Andreessen Horowitz, GIC also invested

Divvy Homes, a property-technology startup that buys homes on behalf of renters and helps them become owners, raised fresh funding in a round that roughly quadrupled its valuation to $2 billion.

San Francisco-based Divvy raised $200 million in equity financing co-led by Tiger Global Management and Caffeinated Capital, Chief Executive Officer Adena Hefets said in an interview. Those existing investors and others including Andreessen Horowitz, Singapore’s GIC, GGV Capital and Moore Specialty Credit participated in the round, which pre-empted a capital raise that could have featured new investors, she said.