Latest news with #AradLevertov
Business Wire
12 hours ago
- Business
- Business Wire
Sunbit is on the 2025 Inc. 5000 List of America's Fastest-Growing Private Companies for 4th Consecutive Year
NEW YORK--(BUSINESS WIRE)--Inc., the leading media brand and playbook for the entrepreneurs and business leaders shaping our future, today announced that fintech Sunbit has ranked No. 1374 on the annual Inc. 5000 list, the most prestigious ranking of the fastest-growing private companies in America. The list provides a data-driven snapshot of the most successful companies within the economy's most dynamic segment—its independent, entrepreneurial businesses. Past honorees include companies such as Microsoft, Meta, Chobani, Under Armour, Timberland, Oracle, and Patagonia. 'We've built a company rooted in doing right by people — offering fair, accessible financing, and world-class continues to translate into strong, measurable growth.'- Arad Levertov, CEO, Sunbit Share 'Being named to the Inc. 5000 for the fourth year in a row is a clear signal that our approach is working — for consumers, for merchants and for the business as a whole,' said Arad Levertov, CEO and Co-founder of Sunbit. 'We've built a company rooted in doing right by people — offering fair, accessible financing, and world-class support. I'm proud that our early adoption of AI throughout our operations allowed us to execute on a customer-first strategy that continues to translate into strong, measurable growth. I am deeply grateful to our incredible team, whose commitment and execution make this possible year after year.' This year's Inc. 5000 honorees have demonstrated exceptional growth while navigating economic uncertainty, inflationary pressure, and a fluctuating labor market. Among the top 500 companies on the list, the median three-year revenue growth rate reached 1,552 percent, and those companies have collectively added more than 48,678 jobs to the U.S. economy over the past three years. 'Making the Inc. 5000 is always a remarkable achievement, but earning a spot this year speaks volumes about a company's tenacity and clarity of vision,' says Mike Hofman, editor-in-chief of Inc. 'These businesses have thrived amid rising costs, shifting global dynamics, and constant change. They didn't just weather the storm—they grew through it, and their stories are a powerful reminder that the entrepreneurial spirit is the engine of the U.S. economy.' This achievement comes on the heels of significant momentum for Sunbit, including its inaugural asset-backed securitization (ABS) deal of $200M led by Citi with J.P. Morgan and ATLAS SP, bringing its total funding capacity to well over $1.5 billion. The company has recently received several additional industry accolades, including awards from Ernst & Young, Forbes, Deloitte, the Los Angeles Business Journal, and the Association of Dental Support Organizations. Inc. will celebrate the honorees at the 2025 Inc. 5000 Conference & Gala, taking place October 22–24 in Phoenix, and the top 500 will be listed in the Fall issue of Inc. magazine. For the full list, company profiles, and a searchable database by industry and location, visit: About Sunbit Sunbit builds financial technology for real life. The company's financial technology products have helped millions of people ease the stress of paying for life's expenses by giving them more options on how and when they pay. Sunbit's technology brings no-fee credit cards for top retailers and its BNPL solution is found in over 60% of all auto dealership service centers, making it the fastest-growing and second-largest dental patient financing solution. Despite never charging fees of any kind for its in-store buy now, pay later technology or co-branded credit card, Sunbit has achieved sustained profitable growth. Through a seamless approval process that delivers decisions quickly, Sunbit is bringing the speed and accessibility of online transactions to in-person purchases. For more information, visit Methodology Companies on the 2025 Inc. 5000 are ranked according to percentage revenue growth from 2021 to 2024. To qualify, companies must have been founded and generating revenue by March 31, 2021. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2024. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2021 is $100,000; the minimum for 2024 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. About Inc. Inc. is the leading media brand and playbook for the entrepreneurs and business leaders shaping our future. Through its journalism, Inc. aims to inform, educate, and elevate the profile of its community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating the future of business. Inc. is published by Mansueto Ventures LLC, along with fellow leading business publication Fast Company. For more information, visit
Finextra
6 days ago
- Business
- Finextra
BNPL outfit Sunbit closes $200m ABS transaction
Sunbit, the company building financial technology for real life, today announced the successful completion of its inaugural asset-backed securitization (ABS), a $200 million notes offering that achieved a AA rating for the senior tranche and priced at an all-in fixed yield of 5.713%. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The transaction was led by Citi (Sole Structuring Agent and Joint Lead Bookrunner), with J.P. Morgan and ATLAS SP Partners as Joint Lead Bookrunners, and represents a significant milestone that positions Sunbit among a select group of leading fintechs successfully executing capital market transactions – signaling market confidence and momentum behind the company's positive growth trajectory. Strategic Timing Reflects Disciplined Approach to Capital Markets The securitization affirms Sunbit's financial, operational, and strategic strength. With profitable operating income for the last three quarters, revenue growth of 35% year-over-year, and over $1 billion in existing warehouse funding capacity, Sunbit strategically chose this moment to access the ABS market. The new ABS transaction also accommodates Sunbit's future funding needs with a 2-year revolver feature. "This securitization is the right transaction at the right time," said Arad Levertov, CEO of Sunbit and recent Ernst & Young Entrepreneur of the Year winner for Greater Los Angeles. "We are profitable and well-positioned for growth with many new investments and initiatives accelerating revenue. The ABS deal provides Sunbit with access to a massive new institutional investor base at attractive fixed rates, and adds significant funding capacity to our existing 4.5 million transaction portfolio, supporting our accelerating expansion.' Key financial highlights include: • Positive Operating Income for three consecutive quarters with positive net cash flow generation • 35% year-over-year revenue growth demonstrating significant and consistent business expansion • Over $1 billion in total warehouse funding capacity from premier institutional partners including Citi, J.P. Morgan, and ATLAS SP Partners • 100% quarter-over-quarter gross merchandise volume increase with Stripe POS financing partnership, and expected 80% year-over-year co-branded credit card receivables growth The securitization adds an additional $400 million in annual funding capacity alongside Sunbit's existing warehouse facilities, bringing total funding capacity to well over $1.5 billion. The transaction attracted more than 25 blue-chip institutional investors, including insurance companies, premier asset management firms, and hedge funds, significantly expanding Sunbit's institutional investor base. Capabilities Drive Market Confidence Sunbit was an early adopter of AI throughout its operations. Its pioneering technology drives superior customer experiences through high approval rates, transaction speed, and a customer-first infrastructure. The successful completion of this securitization required the same level of financial transparency, accounting rigor, and operational controls expected of public companies. Independent rating agencies conducted comprehensive due diligence on Sunbit's credit performance, operational processes, and financial reporting, validating the company's readiness for institutional capital markets. This achievement comes on the heels of significant industry recognition for Sunbit, including recent awards from Inc., Ernst & Young, Forbes, Deloitte, the Los Angeles Business Journal, and the Association of Dental Support Organizations.
Associated Press
18-06-2025
- Automotive
- Associated Press
EY US Announces Arad Levertov of Sunbit as an Entrepreneur Of The Year® 2025 Greater Los Angeles Award Winner
LOS ANGELES--(BUSINESS WIRE)--Jun 18, 2025-- Ernst & Young LLP (EY US) announced that Arad Levertov, CEO of Sunbit was named an Entrepreneur Of The Year 2025 Greater Los Angeles Award winner. Entrepreneur Of The Year is the preeminent competitive awards program for entrepreneurs and leaders of high-growth companies. For 40 years, EY US has celebrated ambitious entrepreneurs who are transforming industries, impacting communities and creating long-term value. Mr. Levertov was chosen by an independent panel of past winners, top CEOs and business leaders. Judges assessed candidates on long-term value creation, entrepreneurial spirit, purpose-driven commitment and significant growth and impact. Sunbit was co-founded by Arad Levertov, Ornit Maizel (CTO), Tal Riesenfeld (CRO), and Tamir Hazan (Head of AI) to challenge the status quo, offering better consumer experiences through superior products, services, and support than was previously possible. In a market where transactional thinking, heavy fee structures, exclusionary policies and products are standard, Sunbit stands apart, having served millions of customers with fast, transparent and fair terms and products – without charging fees of any kind. Sunbit's technology eases the stress of paying for life's expenses by giving people more options on how and when they pay. They have served millions of customers at tens of thousands of locations through their pioneering BNPL for brick-and-mortar businesses, and launched a co-branded credit card with retailers across the country. 'I am honored to be chosen as an EY Entrepreneur of the year winner,' said Levertov. 'I have so much respect for my fellow entrepreneurs, who all know that entrepreneurship is full of challenges. Policy changes, global events, and forces of nature sometimes conspire to test your fortitude. But for Sunbit, staying focused on serving the customer, and remembering that behind every transaction and account number is a person who is just trying to get something done, has made all the difference.' The go-to-financing partner in auto services, Sunbit's technology is found in more than 60% of auto dealership service centers, and they are the fastest-growing patient financing provider in the dental market. Sunbit has done $3.2B in transactions across 4.2M BNPL originations, with 20% of those at 0% interest. Their recently launched co-branded credit card boasts over 186K cardholders, and the company has Saas integrations with partners like Stripe, Xtime, Weave, and more. As a Greater Los Angeles award winner, Mr. Levertov is now eligible for consideration for the Entrepreneur Of The Year 2025 National Awards. The National Award winners, including the Entrepreneur Of The Year National Overall Award winner, will be announced in November at the Strategic Growth Forum®, one of the nation's most prestigious gatherings of high-growth, market-leading companies. The Entrepreneur Of The Year National Overall Award winner will then move on to compete for the EY World Entrepreneur Of The Year™ Award in June 2026. Entrepreneur Of The Year recognizes many different types of business leaders for their ingenuity, courage and entrepreneurial spirit. The program celebrates original founders who bootstrapped their business from inception or who raised outside capital to grow their company; transformational CEOs who infused innovation into an existing organization to catapult its trajectory; and multigenerational family business leaders who reimagined a legacy business model to strengthen it for the future. The Entrepreneur Of The Year program has recognized the leadership of entrepreneurs such as: Sponsors Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards include presenting sponsors PNC Bank, Cresa, LLC, Marsh USA, and SAP. In Greater Los Angeles, sponsors also include ADP, Cooley, Los Angeles Business Journal, Vaco, and Big Picture. About Entrepreneur Of The Year Founded in 1986, Entrepreneur Of The Year has celebrated more than 11,000 ambitious visionaries who are leading successful, dynamic businesses in the US, and it has since expanded to nearly 60 countries globally. The US program consists of 17 regional programs whose panels of independent judges select the regional award winners every June. Those winners compete for national recognition at the Strategic Growth Forum® in November where National finalists and award winners are announced. The overall National winner represents the US at the EY World Entrepreneur Of The Year™ competition. Visit About EY EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets. Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow. EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions. Fueled by sector insights, a globally connected, multi-disciplinary network and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories. All in to shape the future with confidence. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit About Sunbit Sunbit builds financial technology for real life. Our financial technology products have helped millions of people ease the stress of paying for life's expenses by giving them more options on how and when they pay. Sunbit's technology brings no-fee credit cards for top retailers. The company's BNPL solution is found in over 50% of all auto dealership service centers and is the fastest-growing and second-largest dental patient financing solution. Loans are made by Transportation Alliance Bank Inc. dba T.A.B. Bank, which determines qualifications for and terms of credit. The Sunbit Card is issued by T.A.B. Bank, pursuant to a license from Visa U.S.A. Inc. Use of the card is subject to the cardholder agreement. View source version on CONTACT: Media Contact: Sarah Tonzi Company: Sunbit Email:[email protected] KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA INDUSTRY KEYWORD: OTHER RETAIL BANKING ENTREPRENEUR TECHNOLOGY PROFESSIONAL SERVICES PAYMENTS DIGITAL CASH MANAGEMENT/DIGITAL ASSETS RETAIL FINTECH CONSUMER FINANCE SOURCE: Sunbit Copyright Business Wire 2025. PUB: 06/18/2025 07:04 AM/DISC: 06/18/2025 07:03 AM
Business Wire
18-06-2025
- Business
- Business Wire
EY US Announces Arad Levertov of Sunbit as an Entrepreneur Of The Year ® 2025 Greater Los Angeles Award Winner
LOS ANGELES--(BUSINESS WIRE)--Ernst & Young LLP (EY US) announced that Arad Levertov, CEO of Sunbit was named an Entrepreneur Of The Year 2025 Greater Los Angeles Award winner. Entrepreneur Of The Year is the preeminent competitive awards program for entrepreneurs and leaders of high-growth companies. For 40 years, EY US has celebrated ambitious entrepreneurs who are transforming industries, impacting communities and creating long-term value. "Entrepreneurship is full of Sunbit, staying focused on serving the customer, and remembering that behind every transaction and account number is a person who is just trying to get something done, has made all the difference.' Mr. Levertov was chosen by an independent panel of past winners, top CEOs and business leaders. Judges assessed candidates on long-term value creation, entrepreneurial spirit, purpose-driven commitment and significant growth and impact. Sunbit was co-founded by Arad Levertov, Ornit Maizel (CTO), Tal Riesenfeld (CRO), and Tamir Hazan (Head of AI) to challenge the status quo, offering better consumer experiences through superior products, services, and support than was previously possible. In a market where transactional thinking, heavy fee structures, exclusionary policies and products are standard, Sunbit stands apart, having served millions of customers with fast, transparent and fair terms and products – without charging fees of any kind. Sunbit's technology eases the stress of paying for life's expenses by giving people more options on how and when they pay. They have served millions of customers at tens of thousands of locations through their pioneering BNPL for brick-and-mortar businesses, and launched a co-branded credit card with retailers across the country. 'I am honored to be chosen as an EY Entrepreneur of the year winner,' said Levertov. 'I have so much respect for my fellow entrepreneurs, who all know that entrepreneurship is full of challenges. Policy changes, global events, and forces of nature sometimes conspire to test your fortitude. But for Sunbit, staying focused on serving the customer, and remembering that behind every transaction and account number is a person who is just trying to get something done, has made all the difference.' The go-to-financing partner in auto services, Sunbit's technology is found in more than 60% of auto dealership service centers, and they are the fastest-growing patient financing provider in the dental market. Sunbit has done $3.2B in transactions across 4.2M BNPL originations, with 20% of those at 0% interest. Their recently launched co-branded credit card boasts over 186K cardholders, and the company has Saas integrations with partners like Stripe, Xtime, Weave, and more. As a Greater Los Angeles award winner, Mr. Levertov is now eligible for consideration for the Entrepreneur Of The Year 2025 National Awards. The National Award winners, including the Entrepreneur Of The Year National Overall Award winner, will be announced in November at the Strategic Growth Forum ®, one of the nation's most prestigious gatherings of high-growth, market-leading companies. The Entrepreneur Of The Year National Overall Award winner will then move on to compete for the EY World Entrepreneur Of The Year™ Award in June 2026. Entrepreneur Of The Year recognizes many different types of business leaders for their ingenuity, courage and entrepreneurial spirit. The program celebrates original founders who bootstrapped their business from inception or who raised outside capital to grow their company; transformational CEOs who infused innovation into an existing organization to catapult its trajectory; and multigenerational family business leaders who reimagined a legacy business model to strengthen it for the future. The Entrepreneur Of The Year program has recognized the leadership of entrepreneurs such as: Sponsors Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards include presenting sponsors PNC Bank, Cresa, LLC, Marsh USA, and SAP. In Greater Los Angeles, sponsors also include ADP, Cooley, Los Angeles Business Journal, Vaco, and Big Picture. About Entrepreneur Of The Year Founded in 1986, Entrepreneur Of The Year has celebrated more than 11,000 ambitious visionaries who are leading successful, dynamic businesses in the US, and it has since expanded to nearly 60 countries globally. The US program consists of 17 regional programs whose panels of independent judges select the regional award winners every June. Those winners compete for national recognition at the Strategic Growth Forum ® in November where National finalists and award winners are announced. The overall National winner represents the US at the EY World Entrepreneur Of The Year™ competition. Visit About EY EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets. Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow. EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions. Fueled by sector insights, a globally connected, multi-disciplinary network and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories. All in to shape the future with confidence. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit About Sunbit Sunbit builds financial technology for real life. Our financial technology products have helped millions of people ease the stress of paying for life's expenses by giving them more options on how and when they pay. Sunbit's technology brings no-fee credit cards for top retailers. The company's BNPL solution is found in over 50% of all auto dealership service centers and is the fastest-growing and second-largest dental patient financing solution. Loans are made by Transportation Alliance Bank Inc. dba T.A.B. Bank, which determines qualifications for and terms of credit. The Sunbit Card is issued by T.A.B. Bank, pursuant to a license from Visa U.S.A. Inc. Use of the card is subject to the cardholder agreement.
Yahoo
02-04-2025
- Business
- Yahoo
Sunbit Recognized for Innovation and Rapid Business Growth with Five Prestigious Awards
Industry recognition from ADSO, Deloitte, Forbes, Inc., and the Los Angeles Business Journal underscore Sunbit's strong demand and leadership LOS ANGELES, April 02, 2025--(BUSINESS WIRE)--Sunbit, the company building financial technology for real life, has received 5 awards in 4 months from industry leaders, including the Association of Dental Support Organizations (ADSO), Deloitte, Forbes, Inc., and the Los Angeles Business Journal. These awards recognize Sunbit's rapid growth trajectory and innovation as it transforms customer and merchant experiences in point-of-sale financing and cobranded credit cards. Through a seamless approval process that delivers decisions quickly, Sunbit is bringing the speed and accessibility of online transactions to in-person purchases. Removing friction at the point of sale not only empowers businesses to improve conversion rates, it also enhances customer satisfaction. To further ensure streamlined consumer experiences, merchants and associates are supported by an entire ecosystem of tools, training, and technology. "Continually delivering better, more transparent consumer finance experiences requires a tremendous amount of hard work and dedication from our team," said Arad Levertov, CEO of Sunbit. "These awards recognize that their contributions, along with our innovative technology and customer-first approach, are true growth drivers and that real gains are not just offering more choices, but significantly better ones." Despite never charging fees of any kind for its in-store buy now, pay later (BNPL) technology or cobranded credit card, Sunbit has achieved over 30% growth year over year. This momentum places it in the top 10% of private financial technology companies in the U.S. Recognition for this sustained growth, as well as its innovative technology and trustworthy approach, includes the following: Forbes Fintech 50, which spotlights the most groundbreaking companies that are improving the cost, efficiency and access of financial services. In addition to growing faster than competitors, this award celebrates companies making a deep impact on consumers and businesses through innovation. Deloitte Technology Fast 500™, which recognizes the fastest-growing North American companies in the technology, media, telecommunications, life sciences, fintech and energy tech sectors based on fiscal year revenue growth from 2020 to 2023. Inc. 5000 Regionals Pacific, which ranks the fastest-growing Pacific private companies, based in California, Oregon, Washington, Hawaii, Alaska and listed Sunbit at #42. Born of the annual Inc. 5000 franchise, this regional list represents a unique look at the most successful companies within the Pacific economy's most dynamic segment of independent small businesses. Los Angeles Business Journal Fastest Growing Companies, which distinguishes the top 100 private companies with the highest revenue growth in a three-year period in the L.A. area, spanning all industry types. ADSO Innovation Award, an esteemed dental industry accolade, which highlights the advancement of technologies that raise the quality of processes and products and/or have enhanced the dignity and status of the dental profession. For more information on Sunbit, visit: About Sunbit Sunbit builds financial technology for real life. Our financial technology products have helped millions of people ease the stress of paying for life's expenses by giving them more options on how and when they pay. Sunbit's technology brings no-fee credit cards for top retailers. The company's BNPL solution is found in over 50% of all auto dealership service centers and is the fastest-growing and second-largest dental patient financing solution. Loans are made by Transportation Alliance Bank Inc. dba T.A.B. Bank, which determines qualifications for and terms of credit. The Sunbit Card is issued by T.A.B. Bank, pursuant to a license from Visa U.S.A. Inc. Use of the card is subject to the cardholder agreement. View source version on Contacts Meaghan ShieldsFor Sunbitmedia@ Sign in to access your portfolio
