What is Sunbit?
Founded in 2015 and headquartered in Los Angeles, California, Sunbit, Inc. operates within the financial technology sector, offering innovative solutions designed to facilitate consumer purchases at the point of sale. The company's core offering provides enterprise software that enables seamless financial transactions for consumers, particularly in brick-and-mortar retail environments. Sunbit's approach aims to bridge the gap between traditional payment methods and modern consumer financing needs, positioning it as a key player in the evolving fintech landscape.
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 Zeev Ventures, Group 11, and Chicago Ventures
Debt (2020): $1M supported by PPP
Series C (2020): $26M, investors not publicly disclosed
Series D (2021): $130M backed by Zeev Ventures, Harel Group, Migdal Insurance and Financial Holdings, More Investment House, AltaIR Capital, and Group 11
Debt (2022): $250M with participation from Credit Suisse
Debt (2024): $310M led by Ares Management Corporation and Citi
Debt (2024): $355M supported by Waterfall Asset Management, JPMorgan Chase, and Mizuho Financial Group
Key Investors in Sunbit
Zeev Ventures
Zeev Ventures is an early-stage venture fund that invests in technology, financial, e-commerce, and consumer service sectors. Founded in 2015, it invests $1-$20M per round and continues to support companies in subsequent rounds.
Migdal Insurance and Financial Holdings
Migdal Insurance, headquartered in Israel, is a leading provider of insurance and financial services. Founded in 1934, it serves the financial services industry.
Group 11
Group 11 is an investment firm focused on identifying and supporting innovative companies that are reshaping the financial landscape. They prioritize the success of their portfolio companies, believing that their own success is tied to the achievements of the founders they back.
What's next for Sunbit?
The recent major strategic investment of $355M signals a pivotal moment for Sunbit, likely enabling the company to accelerate its expansion strategies, enhance its product development, and broaden its market reach. This infusion of capital, coupled with the company's total funding of $1.1B, suggests a trajectory towards further scaling operations and solidifying its competitive advantage in the enterprise software and fintech sectors. Sunbit is poised to leverage this financial backing to drive innovation and capture greater market share.
See full Sunbit company page
