What is Sunbit?
Founded in 2015 and headquartered in Los Angeles, California, Sunbit, Inc. operates within the enterprise software and financial technology landscape. The company specializes in offering innovative financial technology products designed to facilitate consumer purchases at the point of sale. Sunbit's business model focuses on enhancing the in-store shopping experience by providing accessible and efficient financing solutions, thereby supporting both consumers and merchants.
How much funding has Sunbit raised?
Sunbit has raised a total of $1.1B across 8 funding rounds:
Series A
$2.9M
Series B
$26M
Debt
$1M
Series C
$26M
Series D
$130M
Debt
$250M
Debt
$310M
Debt
$355M
Series A (2016): $2.9M, investors not publicly disclosed
Series B (2019): $26M led by Chicago Ventures, Zeev Ventures, and Group 11
Debt (2020): $1M supported by PPP
Series C (2020): $26M, investors not publicly disclosed
Series D (2021): $130M backed by AltaIR Capital, Group 11, Migdal Insurance and Financial Holdings, Harel Group, Zeev Ventures, and More Investment House
Debt (2022): $250M with participation from Credit Suisse
Debt (2024): $310M led by Citi and Ares
Debt (2024): $355M supported by Waterfall Asset Management, JPMorgan Chase, and Mizuho Financial Group
Key Investors in Sunbit
Waterfall Asset Management
Waterfall Asset Management is an SEC-registered institutional asset manager focused on structured credit and private equity investments, based in New York City.
JPMorgan Chase
JPMorgan Chase & Co. is a leading global financial services firm offering investment banking, commercial banking, asset management, and consumer banking services.
Mizuho Financial Group
Mizuho Trust & Banking Co., Ltd., a core subsidiary of Mizuho Financial Group, is a major Japanese financial institution providing a wide spectrum of financial services including traditional banking, trust, and asset management solutions.
What's next for Sunbit?
The recent major strategic investment signals a new phase of expansion and development for Sunbit. With a robust funding history, including significant debt financing rounds, the company is well-positioned to scale its operations, enhance its technological offerings, and potentially explore new market segments. The enterprise-level funding suggests a focus on strengthening its infrastructure and expanding its reach within the competitive fintech industry, aiming to solidify its market leadership and drive further innovation in consumer financing solutions.
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