Sunbit News
10 articlesOver 50% of US Auto Dealerships Select Sunbit as Partner for Service, Parts and Repairs
Sunbit closes USD 250 mln revolving debt facility
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Sunbit Launches No-Fee Credit Card - Los Angeles Business Journal
Fintech company Sunbit has introduced its own no-fee credit card, the Sunbit Card, which competes with buy now, pay later firms. The card offers personalized APR and flexible payment plans. Sunbit also has a point-of-sale lending option available at various locations. The company aims to expand the adoption of its card and target the underserved subprime marketplace. However, it faces challenges in consumer education and competition with established firms. Convincing merchants to adopt its services will also be a challenge. Sunbit has collected a lot of data over the years and is confident in its ability to measure and overcome potential loan losses.
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growth-positive
סאנביט הישראלית נרתמת לעזרת מגזר הסאב-פריים האמריקאי
Sunbit, a fintech company co-founded by Prof. Tamir Hazan, Ard Lvertov, and two other partners, focuses on the American subprime sector. This sector comprises 40% of Americans whose credit scores are not high enough to receive credit. Sunbit is a platform installed in small businesses in America, such as dentists or mechanics, and allows even those with insufficient credit ratings to receive service. The company recently raised an investment round that turned them into a unicorn.
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סטארטאפ הפינטק סאנביט (Sunbit) מגייס 30 עובדים נוספים - וואלה! כסף
Sunbit, a successful fintech company that develops instant credit solutions for the American market, is recruiting for a variety of roles in Israel. The company, which was founded in 2016, has raised $210 million to date and is valued at over $1 billion. Sunbits products are used for everyday purchases and services such as car repairs and various medical treatments. The companys systems are currently located in over 12,000 different sales points across the US, with an average growth rate of about 600 new sales points per month. The company employs about 400 people globally, in the US and Israel.
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Fintech co Sunbit raises $130m at $1.1b valuation
Israeli-US fintech company Sunbit has completed a $130 million series D financing round at a $1.1 billion valuation. The round was led by returning investor Group 11, with participation from new investors. Sunbit provides short-term credit using buy now, pay later technology. The company plans to disrupt the auto service and repair industry, as well as the dental, eyewear, and elective healthcare industries. Sunbit has experienced rapid growth and aims to expand its reach to more retailers and service providers. The funding will also be used to develop new products.
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growth-positive
Xtime and Sunbit Team to Offer Access to Additional Payment Options in the Service Department
Xtime announces its collaboration with Sunbit to provide additional payment options for dealerships. This collaboration allows consumers to see payment plan options and pre-qualify directly from Xtime. The integration of Sunbit with Xtimes FlexPay aims to improve the customer experience and make automotive repairs more affordable. Sunbit has a 90% approval rate for financing and has helped service departments generate over $142M in revenue for auto dealerships. Xtime is a leading software service solution for the automotive industry, used by over 7,500 dealerships. The collaboration with Sunbit is expected to drive growth and increase customer satisfaction for Xtime.
Partners
growth-positive
Endorsed by 7 Major Auto OEMs, Sunbit is Driving Parts and Service Sales in One out of Six of Auto Dealerships Nationwide
Sunbit, a technology company, has partnered with 3,000 auto dealership parts & service centers, with over 1,100 dealerships added in the past six months. Sunbits machine learning technology provides personalized financing options with transparent and fair rates, allowing customers to split their purchases into monthly payments. Sunbit has become the preferred financing technology for 18 of the top 25 largest auto groups and more than 3,000 auto dealerships in the US. The company has been endorsed by several major car brands and has helped generate over $142M in revenue for auto dealerships. Sunbits goal is to provide access to payment plans that ease the stress of buying for customers and merchants. The technology is available in nearly 4,000 locations nationwide.
Partners
growth-positive
Financing Start-Up Firm Sunbit Expands into Optical Retail Market with Credit Options for Patients
Sunbit, a tech company that provides financing options to patients and consumers, has expanded into the area of optical retail with its consumer credit services. The firm has set up its platform within the offices of three leading regional optical retailers. Sunbits technology has been used in more than 2,500 retail locations across the U.S. The company has signed up more than 110 eyewear locations to utilize its platform and expects to continue signing additional agreements. Sunbits financing plans allow patients to split their purchases into monthly installments, and about 90 percent of patient applicants are approved for credit. The company leverages machine learning technology to personalize underwriting solutions. The expansion into optical retail is expected to result in rapid growth for Sunbit.
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growth-positive
Fintech co Sunbit raises $26m
Sunbit, a financial technology company, has raised $26 million in a Series B financing round led by Zeev Ventures. The funds will be used to accelerate the adoption of Sunbit in various retail markets. Sunbit offers a simplified process of financing in-store purchases for consumers across the credit spectrum. The company has already partnered with major automotive dealers and national chains, and is currently available in over 1,500 retail locations across the US. The recent funding round brings the total amount raised by Sunbit to $54 million. The CEO of Sunbit expressed the companys mission to help consumers access necessary goods and services, especially for those with poor access to credit. The funding will support the companys expansion and meet the needs of more consumers.
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