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 a total of $161.92M across 7 funding rounds from 20 investors, with Group 11 leading an early round. In May 2021, Sunbit secured a D Round of funding, reaching a valuation of $1.1 billion.
Business overview
Sunbit develops a payment solution designed to enhance the retail experience by eliminating financial waste and providing flexible payment options. Utilizing proprietary technology, the company enables retailers to split purchases into multiple payments, thereby increasing sales and extending customer buying power. Sunbit primarily serves the Fintech & Insurtech sector, operating across various industries including automotive, dental, vision eyewear, and veterinary care, offering solutions that boost revenue growth and customer acquisition for businesses.
Strategic signal
In May 2024, Sunbit announced that over 50% of US auto dealerships have selected them as a partner for service, parts, and repairs. This significant adoption rate underscores Sunbit's strong market penetration and validation within the automotive sector, signaling robust growth and strategic importance for investors looking at embedded finance solutions in specialized retail segments.
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.