Welcome back to The Interchange, where we take a look at the hottest fintech news of the previous week. This week, we take a look at one startup layoff, another offering an employee ownership buyout option, and much more. If you want to receive The Interchange directly in your inbox every Sunday, head here to sign up!
From a $2B+ valuation to round after round of layoffs
Last week, I reported on Divvy Homes’ third round of layoffs in a year’s time. It was the latest casualty in a beaten down real estate tech sector.
I first wrote about rent-to-own startup Divvy Homes in September 2019 when it announced a $43 million Series B round to help in its mission to help more Americans “move from renters to [home]owners.” I then covered the company’s $110 million Series C in February of 2021.
Of course, at that time, it was