Company Overview
Snapshot
Founded in June 2019 by Rami Kasterstien, Veetahl Eilat-Raichel, and Eliaz Shapira, Sorbet operates with 51–200 employees. The company has raised $21 million across 3 funding rounds from 6 investors. In June 2025, Sorbet secured a $25 million debt facility from Pier Asset Management.
Business overview
Sorbet is a financial technology solution that optimizes employee wellness by enabling professionals to convert accrued, unused time-off into usable financial assets. The company's platform provides employers with financial flexibility to reduce vacation accruals, save on financing costs, and optimize cash flow. Sorbet operates within the Fintech & Insurtech sector, serving enterprise and professional services markets with its software and mobile-based platforms and interfaces.
Strategic signal
In September 2025, Sorbet underwent a significant operational restructuring, laying off all employees in Israel and most of its U.S. staff due to profitability pressures. This indicates a critical pivot for the company, signaling a strategic reset aimed at achieving profitability and leveraging existing assets and distribution channels, including partnerships with fintech players like Chime, MoneyLion, and Brightside, and serving major corporations such as Amazon, Walmart, and USPS.
Log in to access full profile ›Company Intelligence Q&A
- What was a significant financial event for Sorbet in June 2025?
- In June 2025, Sorbet secured a $25 million debt facility from Pier Asset Management. This funding was intended to meet growing demand and expand access to financial flexibility for employees.
- What strategic product enhancement did Sorbet debut in June 2025?
- In June 2025, Sorbet debuted a new payroll integration feature, partnering with Pinwheel. This integration allows users to connect their accounts to payroll systems for seamless repayments, aiming to expand Sorbet's reach and provide financial flexibility.
- What major operational change did Sorbet implement in September 2025?
- In September 2025, Sorbet laid off all its employees in Israel and most of its U.S. staff. This restructuring was a direct response to profitability pressures, signaling a strategic reset of operations.
- Which investors participated in Sorbet's seed funding round in April 2021?
- In April 2021, Sorbet closed a seed funding round with participation from Viola Ventures.
- What was the purpose of the funding Sorbet received in June 2021?
- In June 2021, Sorbet received funding led by Group 11, with participation from Viola Ventures. This capital was intended to expand and accelerate the company's growth in managing PTO liabilities for employers.