Sunbit
Founded Year
2016Stage
Debt | AliveTotal Raised
$1.113BValuation
$0000Last Raised
$355M | 3 days agoMosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
-13 points in the past 30 days
About Sunbit
Sunbit serves as a financial technology company operating in the credit and lending industry. Its main service is providing a pay-over-time technology that allows customers to spread the cost of everyday needs such as auto repairs, dental care, eye care, and veterinary care. It primarily serves sectors such as the automotive industry, healthcare services, and retail. It was founded in 2016 and is based in Los Angeles, California.
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Sunbit's Product Videos
ESPs containing Sunbit
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The buy now pay later (BNPL) — B2C payments market offers a flexible payment solution for consumers, allowing shoppers to make purchases and split the cost into multiple installments, typically interest-free. BNPL solutions provide an alternative to traditional credit cards and enable customers to make purchases without upfront payment or the need for a credit check. BNPL solutions typically offer…
Sunbit named as Challenger among 15 other companies, including PayPal, Affirm, and Klarna.
Sunbit's Products & Differentiators
Point of sale lending technology
Sunbit's point of sale lending technology enables participating merchants to offer personalized and flexible payment plans to customers. Our technology approves 9/10 people who apply with a 30-second process with minimal data entry. Our AI/ML technology personalizes each offer including the approval amount, down payment required, interest rate offered, and monthly payment plans to choose from.
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Research containing Sunbit
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Sunbit in 1 CB Insights research brief, most recently on May 8, 2024.
May 8, 2024
The embedded banking & payments market mapExpert Collections containing Sunbit
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Sunbit is included in 7 Expert Collections, including Store tech (In-store retail tech).
Store tech (In-store retail tech)
1,732 items
Companies that make tech solutions to enable brick-and-mortar retail store operations.
Unicorns- Billion Dollar Startups
1,249 items
Digital Lending
2,468 items
This collection contains companies that provide alternative means for obtaining a loan for personal or business use and companies that provide software to lenders for the application, underwriting, funding or loan collection process.
Payments
3,034 items
Companies in this collection provide technology that enables consumers and businesses to pay, collect, automate, and settle transfers of currency, both online and at the physical point-of-sale.
Fintech
9,304 items
Companies and startups in this collection provide technology to streamline, improve, and transform financial services, products, and operations for individuals and businesses.
Fintech 100
250 items
250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.
Sunbit Patents
Sunbit has filed 1 patent.
Application Date | Grant Date | Title | Related Topics | Status |
|---|---|---|---|---|
5/2/2017 | 1/26/2021 | Loans, Mortgage, Credit, Personal finance, Payment systems | Grant |
Application Date | 5/2/2017 |
|---|---|
Grant Date | 1/26/2021 |
Title | |
Related Topics | Loans, Mortgage, Credit, Personal finance, Payment systems |
Status | Grant |
Latest Sunbit News
Nov 4, 2024
LOS ANGELES--(BUSINESS WIRE)--Sunbit, the company building financial technology for real life, announced today that it closed a $355 million debt warehouse facility led by J.P. Morgan, Mizuho Bank Ltd. and Waterfall Asset Management. This marks Sunbit’s second debt warehouse facility announcement in 2024, following the news of a $310 million facility with Citi and Ares Management earlier this year. Sunbit, which built its reputation for providing access to fair, transparent and accessible finan
Sunbit Frequently Asked Questions (FAQ)
When was Sunbit founded?
Sunbit was founded in 2016.
Where is Sunbit's headquarters?
Sunbit's headquarters is located at 10940 Wilshire Boulevard, Los Angeles.
What is Sunbit's latest funding round?
Sunbit's latest funding round is Debt.
How much did Sunbit raise?
Sunbit raised a total of $1.113B.
Who are the investors of Sunbit?
Investors of Sunbit include Waterfall Asset Management, Mizuho Bank, J.P. Morgan, Ares Management, Citibank and 13 more.
Who are Sunbit's competitors?
Competitors of Sunbit include Klarna, DigniFi, Wisetack, Whip, Scalapay and 7 more.
What products does Sunbit offer?
Sunbit's products include Point of sale lending technology and 1 more.
Who are Sunbit's customers?
Customers of Sunbit include BDG Dental Services, Altius Healthcare Management and Nissan of Downtown LA.
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Compare Sunbit to Competitors
GreenSky is a financial technology company that provides point-of-sale lending solutions within the home improvement sector. The company offers consumer loan programs for contractors to provide financing options to customers, which can facilitate home improvement projects. GreenSky serves the home improvement industry by providing lending solutions to merchants. It was founded in 2006 and is based in Atlanta, Georgia.
Zilch is a financial services company specializing in consumer credit and payment solutions. The company offers a 'Buy Now, Pay Later' service that allows customers to make purchases and pay for them over a six-week period in four installments, with the option to pay upfront and receive cashback rewards. Zilch provides a virtual Mastercard to facilitate transactions and promotes responsible spending with features like payment notifications and tailored spending limits. It was founded in 2018 and is based in London, United Kingdom.
SplitIt operates as a buy now pay later (BNPL) payments company. It provides a merchant-branded, installments-as-a-service platform that allows merchants to offer their customers the option to pay for purchases over a fixed number of installments, with no interest or fees. It serves industries such as automotive, education, travel, and more. The company was formerly known as PayItSimple. It was founded in 2009 and is based in Atlanta, Georgia.
Butter is a company that focuses on financial services in the ecommerce sector. It offers a service that allows customers to make online purchases and pay for them over time, including for items such as travel, fashion, tech, and home goods. The company primarily serves the ecommerce industry. Butter was formerly known as Awaymo. It was founded in 2017 and is based in London, England.
Klarna specializes in providing payment solutions and services within the e-commerce sector. The company offers a platform for online shopping that includes price comparisons, deals, and various payment options to facilitate purchases for consumers. Klarna primarily serves the e-commerce industry by enabling a seamless shopping experience through its payment and financing services. It was founded in 2005 and is based in Stockholm, Sweden.
Alma is a financial technology company specializing in installment payment and deferred payment solutions within the Buy Now Pay Later (BNPL) industry. The company offers services that allow consumers to pay for purchases over time or at a later date, while ensuring merchants receive immediate payment. Alma primarily serves the ecommerce and retail sectors, providing financial products that aim to increase sales, customer loyalty, and satisfaction without increasing merchant risk. It was founded in 2018 and is based in Paris, France.
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