What is Sunbit?
Headquartered in Los Angeles, Sunbit operates as a specialized fintech enterprise providing innovative pay-over-time financing technology for in-person services. The company serves a critical market need by partnering with over 30,000 merchants across diverse sectors, including automotive repair, dental, eye care, and veterinary services. By facilitating transparent, interest-rate-conscious payment plans without hidden penalties, Sunbit effectively bridges the gap between service providers and consumers. Their platform, which integrates seamlessly with existing loyalty programs and retail credit solutions, is supported by a sophisticated network of service professionals and financial partners, ensuring high approval rates and operational efficiency.
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 Group 11, Chicago Ventures, and Zeev Ventures
Debt (2020): $1M supported by PPP
Series C (2020): $26M, investors not publicly disclosed
Series D (2021): $130M backed by Group 11, Zeev Ventures, Migdal Insurance, YD More Investments, Harel Group, and AltaIR Capital
Debt (2022): $250M with participation from Credit Suisse
Debt (2024): $310M led by Citi and Ares
Debt (2024): $355M supported by Mizuho Financial Group, JPMorgan Chase, and Waterfall Asset Management
Key Investors in Sunbit
Mizuho Financial Group
A major Japanese financial institution and core subsidiary of the Mizuho Financial Group, offering comprehensive trust and asset management services.
JPMorgan Chase
A leading global financial services firm providing investment banking, commercial banking, and asset management solutions worldwide.
Waterfall Asset Management
An SEC-registered institutional asset manager specializing in structured credit, asset-backed securities, and private equity investments.
What's next for Sunbit?
With the recent infusion of $355M, Sunbit is well-positioned to accelerate its market penetration and technological development. The company's strategic focus remains on scaling its embedded credit card solutions and expanding its merchant footprint. As the fintech landscape evolves, Sunbit's ability to leverage its established partnerships with major financial institutions will be pivotal in maintaining its competitive edge. Future growth initiatives are expected to center on enhancing the user experience for both merchants and consumers, further cementing its role as a foundational element in the modern point-of-sale financing ecosystem.
See full Sunbit company page
