Sunbit
“Can a vertical BNPL lender become the default embedded financing layer inside every in-person service software platform?”
Founded2016
HQLos Angeles, CA
FoundersArad Levertov, Ornit Maizel, Tal Riesenfeld, Tamir Hazan
Total raised$1.3B
Latest roundDebt Financing, 2025
IndustryFintech / Lending
The story
Sunbit launched in 2016 as a point-of-sale BNPL provider focused on in-person, non-discretionary services — automotive repair, dental, optical, veterinary, healthcare. It built a dominant position in auto service (claims 60% market share) and dental before expanding into a no-fee Sunbit credit card issued by TAB Bank in 2022. The 2024–2026 pivot is toward embedded distribution: rather than direct merchant sales, Sunbit now embeds into vertical SaaS platforms (Stripe, Xtime, Shopmonkey, Quik, myKaarma, Workiz) to scale via partner-driven origination.
Last 12 months
Product timeline
2016
Sunbit founded in Los Angeles to offer point-of-sale BNPL for everyday in-person services.· pivot
2022
Launched the Sunbit no-fee credit card issued by TAB Bank.· card
2024
Closed $310M debt warehouse with Citi and Ares, then $355M facility led by J.P. Morgan, Mizuho, and Waterfall.· lending
2024
Announced strategic partnership with Stripe to embed BNPL into in-person service merchants.· pivot
2026
General availability of Sunbit on Stripe; embedded in Stripe Dashboard for in-person service businesses.· pivot
The stack
Payments / PSP
Banking / BaaS
Card issuing
Lending
Sunbit BNPL (3/6/12/18-month plans, 0–35.99% APR)Sunbit No-Fee Credit Card (issued by TAB Bank)Patient financing (dental, healthcare, optical, vet)Auto-service financingHome/field-services financing
Sponsor bank
Accounting gap: minor