Sunbit

Sunbit is a financial technology company, founded in 2016, that offers buy-now-pay-later financing for everyday, in-person services such as auto repair, dental work, veterinary care and eyewear, rather than the retail purchases most BNPL providers focus on. Sunbit’s main products are a point-of-sale BNPL service and a no-fee Sunbit Card, both aimed at helping customers spread out the cost of unplanned, often necessary expenses that are harder to budget for than a typical online purchase.

How Sunbit’s financing model works

Sunbit integrates its financing option directly into the checkout process at participating businesses, such as auto-repair shops and dental offices, letting a customer apply for financing and get an approval decision on the spot rather than filling out a separate loan application in advance. The company has said it reaches an average approval rate of about 90%, a notably high figure compared to traditional consumer credit products, reflecting its underwriting model built specifically around these everyday service categories.

Sunbit’s industries and integrations

Sunbit’s financing is used across auto service, dental, healthcare, veterinary and optical businesses, and the company says it has integrated its BNPL product into more than 15 different software platforms used by those industries, letting businesses offer Sunbit financing through point-of-sale systems they already use rather than requiring a separate standalone application.

Sunbit’s $310 million debt financing

Sunbit secured a $310 million debt warehouse facility from Citi and Ares Management credit funds, reported in early 2024, to fund continued growth of its buy-now-pay-later lending business. A debt facility like this is distinct from equity funding: rather than selling a stake in the company to investors, Sunbit borrows against this facility to fund the loans it extends to customers, repaying the facility as those loans are paid back.

Why point-of-sale financing for services has grown

Buy-now-pay-later financing grew first around online retail purchases, but unplanned service expenses like a car repair or a dental procedure can be just as financially disruptive for a household, often more so since they cannot be postponed the way a discretionary purchase can. Sunbit and similar point-of-sale lenders have targeted this gap, positioning their financing as a way for service businesses to help customers afford necessary work without losing the sale to a customer who simply can’t pay upfront.

Sunbit’s growth and public profile

Sunbit has continued expanding its reach across the service industries it targets, reflected in financing activity like its $310 million debt facility aimed specifically at supporting continued lending growth, a step that often signals a fintech lender’s loan volume has grown large enough to need additional capital beyond its original equity funding. Industry coverage has described Sunbit as a notable player specifically within the point-of-sale financing niche for essential, unplanned service expenses.

FAQs

What does Sunbit finance? Sunbit provides buy-now-pay-later financing for everyday, in-person services such as auto repair, dental work, veterinary care and eyewear, rather than typical online retail purchases.

When was Sunbit founded? Sunbit was founded in 2016 and has since expanded its point-of-sale financing into more than 15 different software platforms used across its target industries.

What is Sunbit’s approval rate? Sunbit has said it reaches an average customer approval rate of about 90% for its financing applications.

How much did Sunbit raise in its 2024 debt facility? Sunbit secured a $310 million debt warehouse facility from Citi and Ares Management credit funds, reported in early 2024, to fund its lending operations.

Does Sunbit charge interest like a credit card? Sunbit’s financing terms vary by offer and merchant, and the company has marketed its Sunbit Card specifically as a no-fee option, though specific rates and terms depend on the individual financing plan a customer is offered at checkout.

Editorially reviewed by Specialty Digest Editorial TeamLast reviewed November 9, 2026Researched and drafted with AI assistanceReport an issue