ZeroDown raises more than $100 million of debt capital to help customers own a home without making a down payment
ZeroDown, a real estate startup and a provider of an affordable homeownership solution in the Bay Area, has closed more than $100 million of debt capital from Credit Suisse to fuel the next stage of the company’s growth. ZeroDown gives future homebuyers an unmatched level of ease and flexibility in pursuing their homeownership goals in the San Francisco Bay Area. Since its inception in 2018, ZeroDown has raised more than $30M in equity financing led by Sam Altman and Goodwater Capital.
Zerodown was founded by Abhijeet Dwivedi (Previously COO and CSO at Zenefits, McKinsey), Hari Viswanathan (Previously Staff Engineer at Zenefits) and Laks Srini (Previously Co-founder and CTO at Zenefits, SigFig and D. E. Shaw & Co). The three founders worked together at Zenefits — which processes $2B+ a year in payroll for SMBs, provides access to healthcare and insurance for 100,000+ employees and serves more than 10,000 SMBs.
“ZeroDown has received an overwhelmingly positive response during the past few months and has provided San Francisco residents with the means to buy their dream homes,” said Scott Lustig, Director of Capital Markets at ZeroDown. “This additional funding from Credit Suisse enables us to accelerate our mission of giving homebuyers greater power and flexibility in the home buying process.”
Since launching publicly earlier this summer, ZeroDown has seen customer demand quadruple as homebuyers look to use the ZeroDown platform to purchase their dream home. Those looking to buy a home get started with an easy online approval process at Zerodown.com. Buyers can choose any home on the market and ZeroDown will purchase it for them with an all-cash offer. Buyers pay monthly lease payments to ZeroDown and earn purchase credits that can be used to purchase the home from ZeroDown after an agreed period of time.
ZeroDown simplifies the buying process and lets customers move in on their own schedule. In addition, ZeroDown provides a high-touch luxury concierge service that helps customers with everything from cleaning to moving to ordering new furniture. ZeroDown is transforming the real estate market, starting in the Bay Area. With easy online approval, customers choose the home of their dreams, move in on their own schedule, and earn credits towards their down payment over time.