Company Overview
Snapshot
Founded in April 2016 by Arad Levertov, Tamir Hazan, Ornit Dweck-Maizel, and Tal Riesenfeld, Sunbit operates with 201–500 employees. The company has raised $161.92M across 7 funding rounds from 20 investors. In November 2024, Sunbit secured debt financing from Mizuho Bank and Waterfall Asset Management.
Business overview
Sunbit develops a payment solution designed to enhance the retail experience by eliminating financial waste and providing flexible payment options. Its proprietary technology enables retailers to split purchases into multiple payments, thereby increasing sales and extending customer buying power. The company serves various markets, including automotive, dental, vision eyewear, and veterinary care, operating within the Fintech & Insurtech sector.
Strategic signal
Sunbit's expansion into over 50% of US auto dealerships as a partner for service, parts, and repairs, as reported in May 2024, signals strong market penetration and validation within the automotive sector. This indicates a growing demand for flexible payment solutions in high-value service industries, positioning Sunbit for continued growth and market leadership in point-of-sale financing.
Log in to access full profile ›Company Intelligence Q&A
- What was a significant recent funding event for Sunbit?
- In November 2024, Sunbit secured debt financing from Mizuho Bank and Waterfall Asset Management.
- Which investors participated in Sunbit's January 2024 debt financing round?
- In January 2024, Sunbit received debt financing from Citi and Ares Management Corporation.
- What was a key partnership announced by Sunbit in May 2024?
- In May 2024, Sunbit was selected by over 50% of US auto dealerships as a partner for service, parts, and repairs, indicating significant market adoption.
- When did Sunbit launch its no-fee credit card?
- Sunbit launched its no-fee credit card in August 2022, as reported by the Los Angeles Business Journal. This new offering aimed to provide consumers with a flexible payment option without incurring additional fees.
- Which investors participated in Sunbit's May 2021 funding round?
- In May 2021, Sunbit received funding from investors including Group 11 and Next Generation Finance.