ZeroDown raises $100M to open operations in San Francisco

August 28, 2019
Share this Post: 

ZeroDown, a property startup, is looking to allow more people to own homes in the expensive San Francisco Bay Area by removing the roadblocks of  the homebuying process, namely the down payment and mortgage, and buy homes for its customers outright.

But it doesn’t give the properties away. Rather, the company buys the house with its own funds, without requiring its customers to put down a down payment or assume a mortgage, then leases the property to the customer for a period of as long as five years.

During that time, the customer builds up “purchase credits,” which can then be used as a down payment when they are ready to buy the house themselves.

When the company launched in June, it had $30 million in its coffers, and now, the company is ready to expand after securing $100 million in debt financing from Credit Suisse.

According to ZeroDown, it will use the new debt capital to “fuel the next stage of the company’s growth.”

The company reports that demand for its offering has quadrupled since the company publicly launched in June, and now it’s poised to continue growing.

“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.”

Read more here

Join us November 12-15 for the Property Portal Watch Conference Madrid 2019.

Blue Banner 899 Euros Madrid Ppw 2019

Read more

August 28, 2019

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Hemnet Vs Rea Group
Analysis: Hemnet Still Playing Catch-up to REA Group When It Comes to Vendor Paid Advertising

Vendor-paid markets are great for real estate portals. For more than a decade the leading Swedish player Hemnet has charged...

Read More
Ohmyhome Full Year Results Net Losses But Big Ambitions
OhMyHome 2023 Full-Year Results: Net Losses But Positive Outlook for Nasdaq-listed Marketplace

The Singapore-based publicly listed company OhMyHome has released its 2023 full-year financial results. Highlights include: Revenues totalled S$5.0 million (US$3.8...

Read More
Homely Financial Results
Australian Portal Homely Records 16% More Enquiries in 2023

Australian challenger portal Homely generated over 15.5 million enquiries in the 12 months from April 2023. Homely, which competes with...

Read More
Yandex Q1 Strong Performance From Divested Assets
Yandex Q1 2024: Net Losses for Remaining Assets After Large Scale Divestments

Yandex N.V., the Dutch holding company of the marketplace giant Yandex, has released its financial results for the first quarter...

Read More