Proptech Startups Overheat as GIC-Backed Divvy Homes Struggles to Survive

Posted on 03/01/2023

San Francisco-based Divvy Homes Inc. is a rent-to-own platform for U.S. homes. In late 2022, Divvy Homes laid off 12% of its staff, or about 40 people, as rising mortgage rates hamper U.S. home sales. Many proptech and real estate startups have not experienced a world of rising interest rates, being birthed in a world…

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