Sunbit
Sunbit is a Los Angeles-based fintech founded in 2016 that provides AI-driven point-of-sale pay-over-time financing, credit cards, and co-branded card programs to merchants and consumers across automotive, dental, healthcare, veterinary, optical, and other in-person service verticals in the United States.
- Company typePrivate
- Founded2016
- HeadquartersLos Angeles, United States
- Headcount501–1,000
- GTM typeB2B and B2C
- OfferingServices
What Sunbit does
Sunbit is a U.S.-headquartered financial technology company founded in 2016 that delivers point-of-sale pay-over-time financing and credit card products to in-person service businesses and their consumers. Its core product is an AI-driven BNPL platform enabling consumers to split purchases of $60–$20,000 across 3 to 72 months, with 0% interest promotional options and APRs up to 35.99%; it claims 87%+ approval rates through proprietary AI/ML credit decisioning that approves applicants with FICO scores as low as 500, more than double the ~40% industry average. Beyond the core installment product, Sunbit offers the Sunbit Card and Sunbit Rewards Card (revolving Visa credit issued by TAB Bank) and a co-branded credit card program for national retailers.
The company serves a verticalized SMB and mid-market merchant base across automotive service and collision repair, dental practices and DSOs, healthcare, veterinary, optical/eyewear, home services, medspa, and adjacent service categories, reaching 17,000+ merchants across 40,000+ face-to-face locations and 200,000+ certified service professionals. Distribution is omnichannel—direct enterprise field sales, embedded integrations into vertical SaaS platforms (CCC ONE, Shopmonkey, myKaarma, Xtime, Weave, Shepherd, Zuub, Workiz, Stripe), and co-branded card programs—combined with a digital Sunbit Card and mobile app for consumer account management. Loans are issued by Transportation Alliance Bank Inc. dba TAB Bank under NMLS licensing, and the company has assembled $1.4 billion in funding capacity from J.P. Morgan, Citi, Ares, Credit Suisse, Waterfall Asset Management, and Atlas SP Partners.
The revenue model combines merchant transaction fees (starting at 1.9% per transaction), consumer interest on installment and revolving balances, and co-branded card program/interchange revenue. Sunbit achieved unicorn status in May 2021 at a $1.1 billion valuation following a $130 million Series D led by Group 11 and has since scaled annual transaction volume past $1 billion while serving 5.3 million loan customers. Headquartered in Los Angeles with operations in Las Vegas and an R&D center in Israel, the company employs 501–1,000 staff and continues to expand into new verticals and platform partnerships while expanding its C-suite with consumer-brand marketing leadership.
Sunbit firmographics
Firmographics- Name
- Sunbit
- Legal name
- Sunbit Now, LLC
- Website
- https://sunbit.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Sunbit is a Los Angeles-based fintech founded in 2016 that provides AI-driven point-of-sale pay-over-time financing, credit cards, and co-branded card programs to merchants and consumers across automotive, dental, healthcare, veterinary, optical, and other in-person service verticals in the United States.
- Ownership category
- akta.pro rank
Sunbit industry classification
Industry- Product category
- Consumer Lending / Point-of-Sale Financing
- NAICS
- Sales Financing (52222), Credit Card Issuing (52221)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- BNPL Card / Virtual Card Programs (FSAKACAC)
- akta.pro secondary industry
- Corporate Cards & Spend Controls (FSAGAJAF)
Keywords
Where Sunbit is headquartered
LocationHeadquarters
- HQ city
- Los Angeles
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
Sunbit business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Merchant Transaction Fees: Sunbit charges merchants a fee (starting at 1.9% per transaction) for each financing transaction processed. This is the primary revenue stream from B2B relationships with service providers.
- Consumer Interest Revenue: Revenue from interest charged on installment loans and revolving credit balances. APR ranges from 0% to 35.99% depending on creditworthiness. Some customers pay interest on extended payment plans while others qualify for 0% promotional rates.
- Co-Branded Credit Card Program Fees: Revenue from managing co-branded credit card programs for retail partners including program management, interchange fees, and interest revenue sharing with issuing bank TAB Bank.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | In-person service financing (Auto, Dental, Vet, Healthcare, etc.) |
| Subscription | Monthly | Sunbit Credit Card (Revolving) |
| Transaction based/ take rate | Pay-as-you-go | Dental Practice Financing |
| Transaction based/ take rate | Pay-as-you-go | Stripe Platform Integration |
Go-to-market motion4 records
Distribution channels7 records
Marketing channels8 records
Sunbit product offering
Product offeringCore offering
Sunbit provides AI-native point-of-sale consumer financing that lets shoppers split purchases at in-person service merchants (auto repair, dental, healthcare, veterinary, optical, home services, medspa, and other verticals) into 3-to-72-month installment plans, with 87%+ approval rates, no hard credit check, and 0% APR options for qualified borrowers. The company also offers the Sunbit Card (a no-fee Visa revolving credit card with 2% cashback rewards) and a Co-Branded Credit Card program for national retailers, with all loans issued through partner bank TAB Bank.
Product overview
Sunbit is a financial technology company offering a multi-product portfolio centered around point-of-sale lending and payment solutions for in-person service businesses. The core offering consists of the Pay Over Time/BnPL product (personalized payment plans for consumers) and the Sunbit Card family (no-fee credit cards including the standard Sunbit Card and the Sunbit Rewards Card with 2% cashback). For retail partners, Sunbit provides Co-Branded Credit Card partnerships enabling custom-branded card programs. The technology platform includes Sunbit for Stripe (native Stripe integration) and the Embedded Finance Platform (API/SDK-based integration for software platforms). The company serves diverse verticals including automotive, dental, healthcare, optical, veterinary, home services, medspa, powersports, legal, jewelry, and bridal. All loans are issued by Transportation Alliance Bank Inc. dba TAB Bank.
Differentiator
Problem solved
Functional benefit
Brands
- Sunbit Card: A fee-free credit card that can be used everywhere Visa is accepted, with no annual fees, no late fees, and competitive APR rates ranging from 16.49%-35.99%.
- Sunbit Rewards Card
- Sunbit for Stripe
- Fix Now Pay Later
- Sunbeast
Products and services
- Pay Over Time / BNPL
- Sunbit Card (Credit Card)
- Sunbit Rewards Card
- Co-Branded Credit Card Program
- Sunbit for Stripe
- Embedded Finance Platform (SDK/API)
Quantifiable outcome
- 87% patient financing approval rate (2x industry average of ~40%)
- +9 more outcomes
Companies that use Sunbit
Customer profileNamed customers23 records
Segments8 records
Ideal customer profiles6 records
Sunbit technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration11 records
AI capability5 records
Feature5 records
Sunbit partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered major and core.
- Crash ChampionsmajorCrash Champions launched nationwide 'Fix Now Pay Later' financing powered by Sunbit, integrated into CCC repair management system with 90%+ approval rates, 0% APR options, and no fees.
- CollectlymajorCollectly, an AI-powered patient financial experience platform, partnered with Sunbit to embed instant financing into pre-service and post-service healthcare workflows. Offers 0% interest, 90%+ approvals, no fees.
- CCC Intelligent SolutionscoreCCC integrated Sunbit's consumer financing into CCC ONE platform, enabling collision repair shops to offer embedded payment options for repair costs and deductibles.
- StripecoreSunbit launched on Stripe's platform as a general availability integration, making flexible financing accessible to U.S. in-person service businesses. Supports Stripe Elements, Checkout, Payments, Payment Links, and Connect.
- myKaarmamajormyKaarma integrated Sunbit's BNPL functionality into its automotive service platform, enabling dealers to offer financing solutions to customers for vehicle repairs.
- XtimemajorXtime integrated Sunbit's BNPL functionality, generating millions of dollars in payment plan transactions monthly. Pre-qualification and 'Pay As Low As' options drive customer conversion.
- ShopmonkeymajorShopmonkey partnered with Sunbit for automotive financing integration. Beta testing showed 30% lift in service acceptance and 3X increase in average repair order value.
Scale indicators18 records
Recent moves6 records
Expansion highlights6 records
Sunbit competitors and assessment
Company assessmentDirect peers
- Affirm: Affirm is the largest U.S. BNPL provider, offering pay-over-time at online and in-person merchants across broader verticals than Sunbit. Both share BNPL economics, merchant take-rate pricing, and AI-driven underwriting, though Affirm skews more to online retail while Sunbit focuses on in-person services.
- Wisetack: Wisetack provides BNPL financing specifically for in-person services such as home services, auto repair, and healthcare—the closest vertical and product analog to Sunbit. Both target subprime borrowers through embedded point-of-sale lending with merchant take-rate pricing, making Wisetack the most directly comparable peer.
- Klarna: Klarna is a global BNPL leader expanding in the U.S. market with pay-over-time options at retailers and service providers. Both companies monetize via merchant fees and consumer interest with AI-based credit decisioning, competing for the same merchant relationships.
- CareCredit (Synchrony Financial): CareCredit is the dominant healthcare-finance credit card used at dental, vision, veterinary, and medical providers—directly competing with Sunbit in its highest-share verticals (dental, vet, optical). Both serve subprime patients with merchant-funded promotional financing, making CareCredit Sunbit's most direct incumbent rival.
- Sezzle: Sezzle is a smaller public BNPL provider focused on pay-over-time installment plans at merchants. While Sezzle skews more to e-commerce retail, both monetize through similar merchant fees and consumer interest and compete for the BNPL category leadership.
Broad incumbents
- Afterpay (Block): Afterpay, owned by Block, is one of the original BNPL category leaders with broad retail and online focus. While less specialized in services than Sunbit, Afterpay is a category incumbent competing for merchant relationships and consumer mindshare.
- Bread Financial: Bread Financial is a large consumer financing and co-branded credit card provider serving retail and auto merchants. Comparable to Sunbit on co-branded credit cards and embedded lending through merchant relationships, though Bread's product set is broader and more retail-skewed.
- Upgrade: Upgrade is a fintech lender offering personal loans and a credit card, comparable on the consumer-financing and credit-card product side. While Upgrade focuses on online origination versus Sunbit's in-person service focus, both serve near-prime/subprime borrowers with similar take-rate and APR economics.
- Zip Co: Zip Co is a global BNPL company expanding its U.S. presence with pay-over-time products across retail and services. Comparable as a BNPL competitor for merchant relationships, though Zip's product mix skews more toward online retail than service verticals.
Emerging players
- PatientFi: PatientFi offers patient financing for elective healthcare procedures (cosmetic, dental, fertility), directly overlapping Sunbit's healthcare segment. Both enable subprime approvals and 0% promotional terms at point of care, making PatientFi a focused emerging competitor in healthcare.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Sunbit social profiles
Digital presenceSunbit compliance and trust
Trust signalCompliance1 record
Sunbit financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sunbit leadership team
Management profileNumber of profiles
Profiles17 records
Sunbit funding detail
Funding detailFunding overview
Funding rounds10 records
Investors18 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sunbit M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Sunbit
What does Sunbit do?
Sunbit provides AI-native point-of-sale consumer financing that lets shoppers split purchases at in-person service merchants (auto repair, dental, healthcare, veterinary, optical, home services, medspa, and other verticals) into 3-to-72-month installment plans, with 87%+ approval rates, no hard credit check, and 0% APR options for qualified borrowers. The company also offers the Sunbit Card (a no-fee Visa revolving credit card with 2% cashback rewards) and a Co-Branded Credit Card program for national retailers, with all loans issued through partner bank TAB Bank.
Is Sunbit a public or private company?
Sunbit is a private company. It is classified as venture growth investor backed and is currently operating.
When was Sunbit founded?
Sunbit was founded in 2016. It employs 501 to 1,000 people.
Where is Sunbit based?
Sunbit is headquartered in Los Angeles, United States, in the North America region.
How does Sunbit make money?
Three revenue lines are on record. Merchant Transaction Fees are the primary driver. The others are consumer Interest Revenue and co-Branded Credit Card Program Fees.
Who are Sunbit's main competitors?
Direct peers on record are Affirm, Wisetack, Klarna, CareCredit (Synchrony Financial) and Sezzle. Broad incumbents are Afterpay (Block), Bread Financial, Upgrade and Zip Co. PatientFi is listed as an emerging player.
Does Sunbit have an API?
No public API is recorded for Sunbit.
What industry is Sunbit in?
Sunbit's product category is Consumer Lending / Point-of-Sale Financing. Its primary akta.pro industry code is FSAKACAC, BNPL Card / Virtual Card Programs, with a secondary code of FSAGAJAF, Corporate Cards & Spend Controls. Its NAICS code is 52222 and its SIC code is 6141.