How Divvy Homes Went From rent-to-own pioneer to a Brookfield owned platform
In the beginning Divvy Homes emerged out of Max Levchin’s HVF (Hard Valuable Fun) startup studio with a simple idea of helping renters become owners by buying their home first and then renting it back to the resident through a rent-to-own model while they build a down payment. Max Levchin is a Ukrainian-born American computer scientist and entrepreneur, best known as one of the co-founders of PayPal, where he served as CTO. He was part of the “PayPal Mafia” who is a group of early PayPal executives and employees who went on to found or fund major tech companies such as Tesla, LinkedIn, Yelp, and YouTube. Divvy Homes was co-founded by Adena Hefets (Co-Founder & CEO of Divvy), Nick Clark (Co-Founder), and Alex Klarfeld (Co-Founder). HVF, Max Levchin’s startup studio funded Divvy Homes as one of their portfolio projects. Originally launched in 2016, the Organization began in markets like Cleveland, Memphis, and Atlanta to test out it portfolio project. Customers or “Resid...