Sunbit Raises $310m Debt Facility Led by Citi for BNPL Expansion

Jan 26, 2024•over 1 year ago

Amount Raised

$310 Million

Los AngelesFinancial Services

Investors

Ares ManagementCiti Group

Description

Sunbit has raised a significant US$310m in a debt warehouse facility led by Citi Group for BNPL expansion, with participation from Ares Management. The funding will be used to expand its BNPL offering, including access to the Sunbit Card through co-branded retail card partnerships.

Company Information

Company

Sunbit, Inc.

Location

10940 Wilshire Boulevard

Los Angeles, California, United States

About

Sunbit builds financial technology for real life. Our technology approves the majority of people who apply and eases the stress of paying for life’s expenses by giving people more options on how and when to pay. Sunbit offers a next-gen, no fee credit card and point-of-sale lending technology available at over 22,000 service locations, including auto dealership service centers, optical practices, dentist offices, and specialty healthcare services. View our privacy policy here: https://sunbit.com/consumer_privacy

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