Legal Name: Digs, Inc.
Location: Chicago, Illinois
Industry – Real Estate Software
Projections: $9B by 2022 (Source: Technavio)
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.
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.
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