Sunbit, a Los Angeles CA-based provider of buy now, pay later (BNPL) technology solutions, raised $130m in Series D funding.
The round was led by returning investor Group 11, with participation from returning investor Zeev Ventures, and new investors Migdal Insurance, Harel Group, AltaIR Capital, and More Investment House. Guy Fischer, Chief Investment Officer for Migdal Insurance, joined the company’s board as an observer. The series D capital raise values Sunbit at $1.1 billion.
The company intends to use the funds to expand its merchant presence to reach more retailers and service providers, online and offline and to develop additional products.
Sunbit is a buy now, pay later technology player which offers access to payment options to people everywhere. The technology is offered in-store and online at 7,300 locations, including 1 in 4 auto dealership service centers, optical practices, dentist offices and specialty healthcare services. All loans are made by Transportation Alliance Bank, Inc., dba TAB Bank, which determines qualifications for and terms of credit.
FinSMEs
20/05/2021