Sunbit
Active

Point of sale payment credit

Credit, Fintech, Payments
Machine Learning

Business Overview

At Sunbit, we believe that people deserve to get the most out of their hard-earned money, every time. Sunbit is a fundamentally new way to pay, that eliminates financial waste while providing the best possible experience for retailers and customers. Sunbit is the simplest and quickest way for retailers to split a purchase into multiple payments, increasing sales and extending the buying power of customers so that retailers earn more while customers pay less. We bring data and proprietary decisioning technology to the point-of-sale through a real-time, easy-to-use payment method that provides the best personalized payment options in split-seconds. Our team includes experienced executives from Google, Sears, Intel, Superderivatives, Prosper Marketplace, Avant and Enova International, and globally recognized leaders in the areas of data science and FinTech software engineering.

Founded
June 2017
Employees
54
Business model
B2B2C
Offering type
Software
Funding stage
Series B
Total funding
$54 Million
Sectors
Credit, Fintech, Payments

Funding Rounds

Calculated as the average ratio between the current funding round amount raised and the previous funding round amount raised. Note that 'plus' rounds are summed together. i.e. Series A = Series A and Series A+.
Funding Growth Multiple
260.0x

New wpDataTable

Date Announced

Funding Round

Amount Raised

Investors

June 2019
Series B
$26 M
March 2018
Series A+
January 2017
Series A

AI Technology Stack

AI Description

The underwriting is driven by our own machine learning based credit model built specifically for short term, small dollar purchase financing — not by FICO scores. This means that we can tailor each offer to the consumer, and provide great options for splitting the purchase into a series of payments.

AI employees
3
AI types
Machine Learning
AI algorithms
Boosting, Classification, Clustering, Decision Trees, Linear Regression, Model Selection, Random Forest
Coding
Java, Python

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