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Total amount raised
$1.3B
Latest funding date
2025-08-06
Location
Sunbit has successfully raised funds through 10 funding rounds, with the latest being a Debt Financing round. The company is backed by 22 investors, including notable names like JP Morgan and Waterfall Asset Management.
Sunbit offers flexible payment solutions, allowing consumers to pay over time for essential services such as auto repair, dental care, and healthcare. Keep reading to explore the intricacies of Sunbit's fundraising journey and the investors backing this innovative platform.
Sunbit has raised funding across 10 rounds, with the latest being a $200 million debt financing (ABS) completed in August 2025. The company is backed by 22 investors, including Group 11, Zeev Ventures, J.P. Morgan, Citi, Ares Management, Mizuho Bank, and Waterfall Asset Management.
Keep reading to explore Sunbit's full fundraising journey, key investors, and what's next for the company.
What Is Sunbit?
Sunbit is a Los Angeles, California-based fintech company founded in 2016. It offers buy now, pay later (BNPL) and pay-over-time technology that enables users to finance everyday expenses — including automotive services, dental care, eyewear, and more — by breaking payments into manageable installments. Sunbit uses proprietary machine learning technology to provide quick credit approvals at the point of sale, partnering with thousands of merchants across the United States.
How Much Funding Has Sunbit Raised?
- Pre-Seed
- Amount Raised: USD 120,000
- Date: January 2016
- Lead Investors: Undisclosed
- Seed
- Amount Raised: USD 2,850,000
- Date: September 2016
- Lead Investors: Group 11
- Series A
- Amount Raised: USD 25,000,000
- Date: January 2017
- Lead Investors: Chicago Ventures
- Series B
- Amount Raised: USD 26,000,000
- Date: June 2019
- Lead Investors: Zeev Ventures
- Participants: Group 11, Chicago Ventures
- Series C
- Amount Raised: USD 26,000,000
- Date: September 2020
- Lead Investors: Undisclosed
- Series D
- Amount Raised: USD 130,000,000
- Date: May 2021
- Lead Investors: Group 11
- Participants: Zeev Ventures, Migdal Insurance, Harel Group, AltaIR Capital, More Investment House
- Debt Financing
- Amount Raised: USD 250,000,000
- Date: December 2022
- Lead Investors: Credit Suisse, Waterfall Asset Management
- Debt Financing
- Amount Raised: USD 310,000,000
- Date: January 2024
- Lead Investors: Citi, Ares Management
- Debt Financing
- Amount Raised: USD 355,000,000
- Date: November 2024
- Lead Investors: J.P. Morgan, Mizuho Bank Ltd., Waterfall Asset Management
- Debt Financing (ABS)
- Amount Raised: USD 200,000,000
- Date: August 2025
- Lead Investors: Citi (Sole Structuring Agent), J.P. Morgan, ATLAS SP Partners
Total Amount Raised: at least $1.32B based on disclosed funding across all 10 rounds.
Key Investors
- Group 11
- Details: Group 11 is a Beverly Hills-based venture capital firm specializing in fintech. The firm led Sunbit's Seed and Series D rounds, and participated in all major equity rounds. Group 11 remains one of Sunbit's largest investors and board members.
- Zeev Ventures
- Details: Zeev Ventures is the investment firm of Oren Zeev, a prominent Israeli-American angel investor. Zeev Ventures led Sunbit's Series B round in 2019 and has participated in multiple subsequent rounds.
- Chicago Ventures
- Details: Chicago Ventures is a Palo Alto-based early-stage venture capital firm. The firm led Sunbit's Series A and participated in the Series B round.
- Waterfall Asset Management
- Details: Waterfall Asset Management is a New York-based alternative asset manager. It has co-led multiple debt financing rounds for Sunbit, including the December 2022 and November 2024 facilities.
- Citi
- Details: Citi, the global investment bank, led Sunbit's January 2024 debt facility (alongside Ares Management) and served as Sole Structuring Agent for the August 2025 ABS transaction.
- J.P. Morgan
- Details: J.P. Morgan co-led Sunbit's $355 million debt facility in November 2024 and served as a Joint Lead Bookrunner for the $200 million ABS transaction in August 2025.
- Ares Management
- Details: Ares Management is a leading global alternative investment manager. Its credit funds co-led Sunbit's $310 million debt warehouse facility in January 2024.
- ATLAS SP Partners
- Details: ATLAS SP Partners is a credit-focused asset management firm that served as a Joint Lead Bookrunner in Sunbit's inaugural $200 million ABS transaction in August 2025.
What's Next for Sunbit?
Sunbit is well-positioned to continue its growth in the BNPL and consumer lending space. With over $1.3 billion in total funding capacity and a growing network of merchant partners, Sunbit aims to expand into new verticals and deepen its presence in automotive services, dental care, and eyewear. The company's inaugural ABS transaction in August 2025 marks a significant milestone, opening access to the broader institutional investor market and enabling continued scale of its lending operations.
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