ZeroDown, a platform which helps customers buy a home without the need of a down payment, has collected over $100m in debt capital.
The funds were given by Credit Suisse to support the next stage of ZeroDown’s growth.
Potential homebuyers can use ZeroDown to purchase a property in the San Francisco Bay Area.
It works by a user choosing a home on the market and ZeroDown will buy it on their behalf in an all-cash offer. The buyer will then pay monthly lease payments to ZeroDown and earn purchase credits which can be used to buy the home off ZeroDown after an agreed period of time.
The platform also offers a concierge service that helps customers with everything from cleaning, moving, and ordering new furniture, among other services.
ZeroDown director of capital markets Scott Lustig said, “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.
“This additional funding from Credit Suisse enables us to accelerate our mission of giving homebuyers greater power and flexibility in the home buying process.”
The PropTech was founded in 2018 and has raised more than $30m in equity from backers including Sam Altman and Goodwater Capital.
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