ZeroDown, a San Francisco-headquartered startup that aims to helps potential homebuyers to acquire property without making a downpayment, has closed more than $100 million of debt capital from Credit Suisse. The company previously closed more than $30 million in equity financing led by Sam Altman and Goodwater Capital.
ZeroDown was created in 2018 and launched publicly earlier this summer with an initial focus on the San Francisco Bay Area. According to the company, homebuyers can begin the online approval process at Zerodown.com and choose any home on the market, which ZeroDown will purchase for them with an all-cash offer. Buyers then make monthly lease payments to ZeroDown and can earn purchase credits that can be used to purchase the home from ZeroDown after an agreed period of time. ZeroDown also provides a concierge service to help their customers with services ranging from cleaning to moving to ordering new furniture.
“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 homebuying process.”