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ZeroDown Raises More Than $100M in Debt Financing

August 26, 2019

SAN FRANCISCO--(BUSINESS WIRE)--Aug 26, 2019--

ZeroDown, a startup that helps customers own a home without making a down payment, announces the closing of more than $100M 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.

“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 was founded in 2018 and has raised more than $30M in equity financing led by Sam Altman and Goodwater Capital.

About ZeroDown

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. Founded in 2018, the company is backed by Sam Altman and Goodwater Capital. The company’s headquarters are in San Francisco. For more information, visit www.zerodown.com

View source version on businesswire.com:https://www.businesswire.com/news/home/20190826005548/en/

CONTACT: Yalda Rafie

SutherlandGold for ZeroDown

zerodown@sutherlandgold.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: FINANCE PROFESSIONAL SERVICES RESIDENTIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY

SOURCE: ZeroDown

Copyright Business Wire 2019.

PUB: 08/26/2019 12:42 PM/DISC: 08/26/2019 12:42 PM

http://www.businesswire.com/news/home/20190826005548/en

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