- ZeroDown announced it raised $30 million in funding to date from investors including Sam Altman and Goodwater Capital
ZeroDown is a company that enables customers to buy homes in the Bay Area without a down payment. The company also announced it raised $30 million in funding to date from investors including Sam Altman and Goodwater Capital.
People who are looking to buy a home can put zero down upfront and make all-cash offers with no contingencies. This would allow them to get the keys to their new home in less than seven days.
This platform specifically addresses the San Francisco housing market, which typically receives all cash offers and above listing prices. As a result, ZeroDown makes homeownership more accessible in an area marked by the affordability crisis.
“Ask anyone in the Bay Area and they aren’t sure they can afford to buy a home,” said ZeroDown co-founder and CEO Abhijeet Dwivedi. “Now we’re giving buyers the power and flexibility they need to purchase the home of their dreams. We are the first real estate company to directly address the San Francisco housing market and are excited to see the impact we can make.”
As the Bay Area is seeing skyrocketing prices and buyer confidence is hitting an all-time low, ZeroDown has a goal of putting homeownership in reach of those living in the hottest real estate market.
“There has been so much innovation in real estate tech in the Valley, but no one is tackling the toughest housing markets,” added Goodwater Capital co-founder and managing partner Eric Kim. “Goodwater is invested not only in ZeroDown’s experienced team, but their product that hugely benefits consumers who face a housing market often out of reach. ZeroDown is redefining the home buying experience for Bay Area residents and beyond.”
How does the process work? To get started, buyers qualify with an easy online approval process and then choose a home that ZeroDown pays for. From there, customers can move in within seven days and have five years to build up credit towards the down payment. And to alleviate the stress of homeownership, ZeroDown offers a 24/7 concierge service to connect customers with resources for cleaning, maintenance, and repairs. ZeroDown partners with a number of brokers and agents to provide customers with the highest level of quality real estate services.
”We feel very passionate about making homeownership more attainable for more people and about giving our customers true white glove service,” explained Gretchen Pearson — the brokerage president and CEO at Berkshire Hathaway Home Services Drysdale Properties. “ZeroDown couldn’t be more aligned with this approach, and we look forward to our ongoing partnership.”