Fast-growing fintech demonstrates financial strength and profitability amidst strategic capital diversification

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%. 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.

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 sunbit.com.

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"We are profitable and well-positioned for growth...[the ABS deal] adds significant funding capacity to our existing 4.5 million transaction portfolio, supporting our accelerating expansion." - Arad Levertov, CEO, Sunbit