Zero Financial combines a rewards credit card called Zerocard with an FDIC-insured checking account called Zero Checking. The app presents a debit-style experience that displays card and account transactions together with one net spendable balance. The product includes features to prevent unplanned or unwanted overspend and enhances transactions with merchant logos and maps for easy recognition. Customers have access to a support team with 24/7 coverage from an operations center in California. Zero partners with WebBank to issue Zerocard, while deposits are held at Evolve Bank & Trust and insured up to FDIC limits. The company is led by founders Bryce Galen (CEO) and Joel Washington (COO). Zero Financial replaces checking, savings, debit, and credit cards with a rewards-rich banking experience delivered through the Zero mobile app and the Zerocard. The app consolidates deposits, purchases, and transfers and displays a real-time net balance so users have a single number to spend from and track. Zerocard is issued in partnership with WebBank and is offered in four tiers: Carbon, Magnesium, Graphite, and Quartz, each with graduated cash-back rates and balance-based rewards. Carbon customers can earn 3.0% cash back and about 1.75% annual rewards on average net balances; Magnesium, Graphite, and Quartz tiers offer 2.0%, 1.5%, and 1.0% cash back and 1.00%, 0.50%, and 0% annual rewards, respectively. To earn cash back and rewards above one percent, customers must pay their Zerocard balance in full each month from deposits in a Zero account. The company is led by founder & CEO Bryce Galen and founder & COO Joel Washington.

Total raised

$36M

Funding rounds

3

Latest round

Series A

Latest activity

May 2019