Sunbit joined the Unicorn Club on May 21, 2021. Headquartered in Los Angeles, California, United States, Sunbit offers a point-of-sale financing platform that enables retailers to offer customers the option to split purchases into manageable payments. Its solution supports flexible repayment plans, integrates directly at checkout, and includes dedicated tools and training for sales associates.
Keep reading to learn how Sunbit became a billion-dollar leader in consumer financing and retail payments innovation.
What Is Sunbit and What Does It Do?
Founded in 2016, Sunbit is a financial technology company that provides personalized financing solutions at the point of sale. The platform enables customers to divide their payments into smaller installments, while also allowing merchants to increase sales conversion and customer satisfaction.
Sunbit’s app helps users manage repayments and view account activity, while retailers benefit from quick integration, a tablet-based interface, and full team onboarding support. Its technology is designed to make financing accessible and stress-free for everyday purchases.
How Much Funding Has Sunbit Raised?
- Series D and Earlier Rounds
- Cumulative Funding: ~$159 million
- Key Investors: G Squared, Proactive, Zeev Ventures
- Purpose: Expand retailer partnerships, enhance underwriting models, and improve AI-driven credit decisioning
- Conventional Debt Round
- Amount Raised: $355 million
- Date: November 4, 2024
- Purpose: Strengthen loan book capacity and expand consumer credit offerings
Total Funding Raised: ~$514 million
Latest Funding Date: November 4, 2024
Latest Known Valuation: ~$1.1 billion
Employee Count: 128 (as of Dec 31, 2020)
Key Investors
- G Squared
- Details: Global venture capital firm backing growth-stage technology and fintech companies.
- Focus Areas: Financial technology, e-commerce, and digital consumer services.
- Proactive
- Details: Investment firm supporting technology startups in lending, payments, and digital platforms.
- Focus Areas: Fintech, alternative lending, and retail payment infrastructure.
- Zeev Ventures
- Details: Venture capital firm focused on early and growth-stage companies disrupting traditional financial systems.
- Focus Areas: Fintech, SaaS, and innovation in financial infrastructure.
Where Is Sunbit’s Headquarters?
Sunbit is headquartered in Los Angeles, California, United States. The company operates across the retail, automotive, and healthcare sectors, helping merchants offer simple and transparent financing solutions at checkout.
What’s Next for Sunbit?
Sunbit is expected to expand its reach into new verticals, such as healthcare, home improvement, and travel, while strengthening its data-driven lending capabilities. The company continues to focus on enhancing customer experience, streamlining merchant onboarding, and ensuring regulatory compliance as it scales its consumer finance ecosystem.
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