Sunbit Raises $130M in Series D Funding; at $1.1 Billion Valuation
Sunbit’s founding team (from l to r): Arad Levertov, Co-founder and CEO; Tal Riesenfeld, Co-founder and Head of Sales; Ornit Maizel, Co-founder and CTO; and Tamir Hazan, Ph.D., Co-founder and Head of AI.
Sunbit, a Los Angeles CA-based provider of buy now, pay later (BNPL) technology solutions, raised $130m in Series D funding.
The round was led by returning investor Group 11, with participation from returning investor Zeev Ventures, and new investors Migdal Insurance, Harel Group, AltaIR Capital, and More Investment House. Guy Fischer, Chief Investment Officer for Migdal Insurance, joined the company’s board as an observer. The series D capital raise values Sunbit at $1.1 billion.
Share this article
Share this article
LOS ANGELES, May 20, 2021 /PRNewswire/ Sunbit, the preferred buy now, pay later (BNPL) technology for everyday needs and services, today announced a $130 million series D round of funding. The round was led by returning investor Group 11, a leading venture capital firm known for backing some of the most disruptive fintech companies. Other stakeholders include returning investor Zeev Ventures, and new investors Migdal Insurance, Harel Group, AltaIR Capital, and More Investment House. Guy Fischer, Chief Investment Officer for Migdal Insurance, joined the company s board as an observer. The series D capital raise values Sunbit at $1.1 billion, making the company the latest to join the ranks of fintech unicorns.
SALT LAKE CITY Lisa Bradshaw Rowberry, of Provo, pleaded guilty for her role in Paycheck Protection Program (PPP) loan fraud scheme last week in federal court. Rowberry pleaded guilty to loan application fraud for unlawfully obtaining a federal Paycheck Protection Program (PPP) loan for the Frisbu trucking company, where she was employed by the owner of the company and co-defendant, Hubert Ivan Ugarte. Ugarte pleaded guilty to PPP loan fraud and federal bribery charges involving the FedEx Ground Hub in federal court last month.
According to the plea agreement, Rowberry admitted to submitting a fraudulent loan application to Transportation Alliance Bank in Ogden, Utah, for PPP loans authorized by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and that she fraudulently obtained $210,000 in PPP loans for Frisbu after failing to disclose on the loan application that Ugarte was under federal indictment for his role in a bribery scheme involving the FedEx Ground Hub.