Sunbit

We're excited to share Jeff Kauflin's feature story in Forbes, previewing our $355M debt warehouse facility from J.P. Morgan, Mizuho, and Waterfall Asset Management LLC, and highlighting how Sunbit has created a market to meet the needs of everyday Americans where one previously didn't exist: https://lnkd.in/gW9BxDYc #bnpl #debtfinancing #fintech #financingnews #fintechnews

In today's Retail TouchPoints: “We wanted the Ollie’s Credit Card to be packed with value for our customers and be so much more than the typical retail store card,” Tom Kuypers explained. Ollie's Bargain Outlet, Inc. worked with Sunbit to launch the card within months — and without any POS integration requirements. Sunbit’s team handles the deployment, support, training and customer care tied to the card, according to Kuypers, “which reduces the potential complexity of the rollout and saves significant time and money. Our teams will keep doing what they do best, serving our customers.” https://lnkd.in/d7rmiQzd #loyaltyprogram #payments #creditcard #retailcard #olliesarmy

"This strategic move is part of Sunbit’s ongoing efforts to meet increasing consumer demand, which has been spurred by broader merchant adoption and the expansion of its no-fee credit card offerings." Read on for more: https://lnkd.in/ei6z4pJA #fintech #bnpl

"Sunbit, which built its reputation for providing access to fair, transparent and accessible financing through its market-leading BNPL technology, has seen significant growth in new markets and products in 2024. Despite never charging fees of any kind for its buy-now, pay-over-time solution or credit card available in retailers, Sunbit is growing in the top 10% of private financial technology companies in the country." Read now: https://lnkd.in/dsTESHCj #fintech #bnpl

"This latest facility is aimed at expanding Sunbit’s reach, and follows a 'breakout year' for the firm, according to chief capital officer James Paris. In 2024, the fintech formed an integration partnership with payments giant Stripe expanded its presence in the auto service market, and saw its credit card platform chosen by three new retail partners." Read more: https://lnkd.in/ewwB6ZXk #fintech #bnpl

This is Sunbit’s second such facility in 2024, following a USD 310 million facility from Citi and Ares Management earlier in January 2024. "Founded in 2016 and based in Los Angeles, Sunbit offers a no-fee credit card and a point-of-sale (POS) lending option in the form of a Buy Now, Pay Later (BNPL) service. The company states its financing options are available in over 25,000 service locations across the US Sunbit also reports having served 2.6 million loan customers and facilitated around USD 1 billion in merchant transactions annually by the end of 2023." Read more: https://lnkd.in/ecT7a-4D #fintech #bnpl

From PYMNTS: "The new financing, announced Monday (Nov. 4), was led by J.P. Morgan, Mizuho Bank Ltd., and Waterfall Asset Management following a $310 million facility earlier this year with Citi and Ares Management... its credit card platform was selected by three new retail partners this year, and it recently launched an integration with Stripe, the largest of its FinTech partnerships. The company also expanded its market footprint to encompass more than half of the dealership auto services market, and became the second largest and the fastest-growing dental patient finance player, with a presence in more than 12,000 practices." Read more: https://lnkd.in/eVUywXzd #bnpl #fintech #fintechnews

We're looking forward to the ADSO Next Level Mid-Market Conference next week in Austin, TX. Jay Letwat and Erik Schear from our team will be onsite to meet with you. Be sure to visit booth #36 and grab some Sunbit swag. The Association of Dental Support Organizations (ADSO) #fintech #dental #dentist

Check us out on the front page as the lead story in American Banker in a piece by Joey Pizzolato on our expansion into co-branded credit cards: Ben Danner, senior research analyst at Javelin Strategy & Research, says "Co-brands are hot...And for good reason, in the sense that when you think of a private label card, it only works at that one retailer. These co-brand cards give you a little bit of benefit for that loyal customer at that retailer as well as everyday purchases, too." "The company expanded a partnership in September with Stripe in a platform play to offer more retail service providers its BNPL product." "The idea with Stripe is to get to additional verticals that Stripe is working with," Arad Levertov said. "Through what we call platform integration with Stripe, we're going to get to more platforms that support brick and mortar." Read on: https://loom.ly/nQ6Kpig #creditcards #bnpl #cobrandedcard #fintech #fintechnews

It's a three-peat: we are honored to have been selected for the DeloitteTechnology Fast 500 for the third year in a row, coming in at #161. This award recognizes the most innovative, fastest-growing technology companies in North America. Huge thanks to our customers, our merchant partners, and our employees for helping Sunbit transform the way Americans pay for everyday expenses. #deloittetechnologyfast500 #techawards #fintech #bnpl #fintechawards #fintechnews