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Unicorn: Buy Now Pay Later Tech Sunbit Secures $130 Million Through Series D Funding Round Led By Group 11
Series A funding round, which was led by
Group 11 with participation from Zeev Ventures, Migdal Insurance, Harel Group, AltaIR Capital, and More Investment House. The company reported that the investment round brings its valuation to $1.1 billion, achieving
Unicorn status.
Founded in 2016, Sunbit describes itself as the preferred buy now, pay later technology for everyday needs and services.
“Sunbit eases the stress of buying everyday needs by offering fast, fair, and transparent payment options to people from all walks of life. We are offered in-store and online through nearly 7,000 locations, including 1 in 4 auto dealership service centers, optical practices, dentist offices and specialty health care services.”
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Sunbit Raises $130M in Series D Funding; at $1.1 Billion Valuation
Sunbit’s founding team (from l to r): Arad Levertov, Co-founder and CEO; Tal Riesenfeld, Co-founder and Head of Sales; Ornit Maizel, Co-founder and CTO; and Tamir Hazan, Ph.D., Co-founder and Head of AI.
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.
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