About Sunbit
Sunbit is a company based in Los Angeles (United States) founded in 2016.. Sunbit has raised $158.63 million across 7 funding rounds from investors including Citi, Ares Management and J P Morgan. The company has 128 employees as of December 31, 2020. Sunbit offers products and services including Sunbit Pay-over-time Technology and Sunbit Card. Sunbit operates in a competitive market with competitors including Klarna, Afterpay, Zip, Snap Finance and Uplift, among others.
- Headquarter Los Angeles, United States
- Employees 128 as on 31 Dec, 2020
- Stage Unicorn
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Sectors
RetailFinancial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Sunbit Now, Llc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$158.63 M (USD)
in 7 rounds
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Latest Funding Round
$355 M (USD), Debt – Conventional
Nov 04, 2024
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Investors
Citi
& 12 more
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Employee Count
128
as on Dec 31, 2020
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Products & Services of Sunbit
Sunbit offers a comprehensive portfolio of products and services, including Sunbit Pay-over-time Technology and Sunbit Card. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Enables deferred payments for services like repairs and healthcare.
Offers fee-free credit for retail and service purchases over time.
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Software Development Team
27 people
Data Analysis and Operations Team
13 people
Product Management Team
9 people
Leadership Team
9 people
Operations Team
5 people
Sales and Marketing
4 people
Legal and Compliance
4 people
Back Team
4 people
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Funding Insights of Sunbit
Sunbit has successfully raised a total of $158.63M across 7 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $355 million completed in November 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 7
- Last Round Debt – Conventional — $355.0M
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First Round
First Round
(07 Mar 2016)
- Investors Count 13
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2024 | Amount | Debt – Conventional - Sunbit | Valuation |
investors |
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| Jan, 2024 | Amount | Debt – Conventional - Sunbit | Valuation |
investors |
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| Dec, 2022 | Amount | Debt – Conventional - Sunbit | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Sunbit
Sunbit has secured backing from 13 investors, including institutional and venture fund investors. Prominent investors backing the company include Citi, Ares Management and J P Morgan. 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 |
|---|---|---|---|---|
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Alternative asset investment management firm
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Founded Year | Domain | Location | |
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Investments in fintech companies are made by Group 11.
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Founded Year | Domain | Location | |
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Investments in early-stage startups are made by Zeev Ventures.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Sunbit
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Sunbit
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Sunbit Comparisons
Competitors of Sunbit
Sunbit 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 Klarna, Afterpay, Zip, Snap Finance and Uplift, 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 |
Point-of-sale financing is facilitated through an online platform for purchases.
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| domain | founded_year | HQ Location |
A buy now pay later service is offered by Afterpay.
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| domain | founded_year | HQ Location |
Payment solutions are provided for deferred purchasing by Zip.
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| domain | founded_year | HQ Location |
Merchandise financing is offered through partner stores.
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| domain | founded_year | HQ Location |
Point-of-sale financing for travel bookings is offered by Uplift.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Sunbit
Frequently Asked Questions about Sunbit
When was Sunbit founded?
Sunbit was founded in 2016.
Where is Sunbit located?
Sunbit is headquartered in Los Angeles, United States. It is registered at Los Angeles, California, United States.
Is Sunbit a funded company?
Sunbit is a funded company, having raised a total of $158.63M across 7 funding rounds to date. The company's 1st funding round was a Debt – Conventional of $250M, raised on Mar 07, 2016.
How many employees does Sunbit have?
As of Dec 31, 2020, the latest employee count at Sunbit is 128.
What does Sunbit do?
Sunbit was founded in 2016 in Los Angeles, United States, within the fintech sector. An online platform is operated to enable point-of-sale financing, where purchases by shoppers are divided into smaller payments by retailers. Repayment plans are selected by customers from available options. Tablets and scanners are supplied to sales associates, accompanied by training on system usage. Payment progress is monitored by customers through a dedicated application.
What products or services does Sunbit offer?
Sunbit offers Sunbit Pay-over-time Technology and Sunbit Card.
Who are Sunbit's investors?
Sunbit has 13 investors. Key investors include Citi, Ares Management, J P Morgan, Credit Suisse, and Mizuho Financial Group.
What is Sunbit's valuation?
The valuation of Sunbit is $1.1B as of Jun 2021.
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