COMPANY

Name: Digs

Legal Name: Digs, Inc.

Location: Chicago, Illinois

Founded: 2018

Founders: Pat McLoughlin and Chad Johnson

Website: https://digs.co/

Social Media Following: 844 followers on Facebook, 158 followers on Twitter, 4,497 followers on Instagram, 97 followers on LinkedIn

Industry – Real Estate Software

Projections: $9B by 2022 (Source: Technavio)

Introduction

Digs is a savings product that helps renters transition into homeownership. The platform is designed with a unique ‘401k style’ matching program that rewards renters who are contributing to their account regularly. 

The Product

Once a user signs up on Digs, the platform educates them on the home-buying process. When the time to buy the home arrives, Digs – led by a team of experienced professionals – offers personalised real estate agent and mortgage lender recommendations suited for first-time buyers.

It’s interesting to note that the more you save with Digs, the more you earn in the form of homebuyer credits towards your real estate transaction. The app also busts common myths (such as you need to save at least 20% for your first home) and walks you through a list of common pros and cons associated with the home buying process. 

In addition, Digs is actively using 33 technologies for its website, such as Viewport Meta, iPhone/Mobile Compatible, and SSL by Default.

Origin and Founders

Founders Pat McLoughlin and Chad Johnson met in architecture school, where they developed a passion for creating something for the housing sector. After graduating, Pat became a real estate investor, landlord, and real estate agent, while Chad broke into tech, designing apps and websites across industries.

After the duo faced the difficulties of saving for and purchasing a home, they got together in 2018 to create Digs and help others facing similar issues.

Performance and Trends

According to online data, Digs has raised an undisclosed amount as part of a pre-seed funding round by Cheung Tam on Apr 15, 2019.