About CIT
CIT is a company based in New York (United States) founded in 1908 was acquired by First Citizens Bank in October 2020.. The company has 794 employees as of December 31, 2021. CIT has completed 5 acquisitions, including Direct Capital, IMB Holdco and Mutual of Omaha. CIT operates in a competitive market with competitors including CSI Leasing, Cat Financial, Hginc, Verdant Commercial Capital and GreatAmerica, among others.
- Headquarter New York, United States
- Employees 794 as on 31 Dec, 2021
- Stage Public
-
Sectors
Financial Services
-
Email
***********
-
Phone
*********
-
Website
*********
-
Social
*********
-
Annual Revenue
$1.62 B-27as on Dec 31, 2020
-
Net Profit
$-615.3 M-216as on Dec 31, 2020
-
EBITDA
$327.4 M6as on Dec 31, 2020
-
Latest Funding Round
- Investors
-
Employee Count
794
as on Dec 31, 2021
-
Investments & Acquisitions
Direct Capital
& 4 more
-
Acquired by
First Citizens Bank
(Oct 16, 2020)
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Unlock access to complete
Unlock access to complete
Leadership Team
58 people
Software Development Team
54 people
Finance and Accounting
37 people
Operations Team
12 people
Sales and Marketing
11 people
Senior Team
11 people
Human Resources and Administration
6 people
Legal and Compliance
4 people
Unlock access to complete
Funding Insights of CIT
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in CIT
CIT has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include First Citizens Bank. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Commercial banking services are provided to individuals and businesses.
|
Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
|
Founded Year | Domain | Location | |
|
Startup ecosystems are ignited through strategic investments by Signite Partners.
|
Founded Year | Domain | Location | |
|
Venture capital is directed toward companies in multiple sectors.
|
Founded Year | Domain | Location | |
|
Venture capital is invested in cybersecurity, fintech, and AI startups.
|
Founded Year | Domain | Location |
Investments & Acquisitions by CIT
CIT has strategically engaged in corporate development activities, having acquired 5 companies. Notable acquisitions include Direct Capital, IMB Holdco and Mutual of Omaha. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Bionic investment advisor platform
|
2016 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Insurance and financial services are provided across the United States.
|
2010 | ||||
|
Commercial banking services are provided to businesses and individuals.
|
2009 | ||||
|
Equipment and working capital financing is extended to small businesses.
|
1993 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
OVO is recognized as a smart digital payment application.
|
2017 | ||||
|
Bionic investment advisor platform
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 |
Financial Statements - CIT
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Cit Comparisons
Competitors of CIT
CIT operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as CSI Leasing, Cat Financial, Hginc, Verdant Commercial Capital and GreatAmerica, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Financing and leasing for machinery and equipment are provided globally.
|
|
| domain | founded_year | HQ Location |
Caterpillar's asset financing arm
|
|
| domain | founded_year | HQ Location |
Financial asset liquidation, valuations, and advisory services are provided.
|
|
| domain | founded_year | HQ Location |
Equipment financing company
|
|
| domain | founded_year | HQ Location |
Asset financing firm
|
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
|
|
| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
|
|
| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
|
|
| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
|
Latest news on Cit
Frequently Asked Questions about CIT
When was CIT founded?
CIT was founded in 1908.
Where is CIT located?
CIT is headquartered in New York, United States. It is registered at New York, New York, United States.
How many employees does CIT have?
As of Dec 31, 2021, the latest employee count at CIT is 794.
What is the annual revenue of CIT?
Annual revenue of CIT is $1.62B as on Dec 31, 2020.
What does CIT do?
Founded in 1908 and headquartered in New York, United States, CIT Group operates in the commercial financing sector. Asset-based debt solutions, equipment and rolling stock leasing, and real estate financing are extended to industries including aerospace, defense, communications, technology, consumer goods, energy, health care, and rail. Consumer banking is handled through CIT Bank. Annual revenues of 3.1 billion were reported in 2020, accompanied by a net loss of 615.3 million.
Who are the top competitors of CIT?
CIT's top competitors include Cat Financial, CSI Leasing and Hginc.
How many acquisitions has CIT made?
CIT has made 5 acquisitions, including Direct Capital, IMB Holdco, and Mutual of Omaha.
Who are CIT's investors?
CIT has 1 investor. Key investors include First Citizens Bank.
Book a demo & talk to our team
Share a few details and we’ll reach out to schedule a session.