ZeroDeposit start-up receives total £5m funding

Zero Deposit, the alternative tenant deposit scheme being set up by former ZPG commercial director Jon Notley has received a second round of funding taking the total invested so far to £5 million after it secured commercial and partnership deals with insurer Munich Re and ZPG. Zoopla’s parent company ZPG initially invested £250,000 in Notley’s start-up in May, a month after Notley was appointed as a director of Global Property Ventures, the Stevenage-based company behind Zero Deposit. Jon Notley (pictured, left) is joined at the start-up by Simon Embley, the former CEO of Your Move, and Gavin Wiseman and Ben Austin, both serial start-up entrepreneurs and co-founders of removals comparison website Buzzmove. The new investors backing Zero Deposit are Grenville Turner (pictured, right), the former CEO of Countrywide and JamJar Investments, who set innocent drinks and now also back deliveroo and graze. The two other investors are Vanneck Ltd and KM Capital. Such early and high-profile funding is unusual to say the least partly because start-ups normally need to at least launch before receiving a second round of funding. Zero Deposit, which says it will pay agents referral fees, currently features a holding page inviting tenants to register their interest,…