Oren Zeev Leads $26 Million Round in Payment Installments Startup Sunbit
Sunbit develops a payment method that allows stores in the U.S. to offer their customers the option of paying in installments
Israeli-expat angel investor Oren Zeev, through his investment firm Zeev Ventures, has led a $26 million funding round in Israel and U.S.-based fintech startup Sunbit Inc., Zeev Ventures announced Wednesday. Los Angeles-based early stage venture capital firm Group 11, formerly known as SGVC, and Chicago Ventures also participated in the round.Based in Palo Alto, California, Zeev Ventures’ current and past portfolio companies include Palo Alto-based home remodeling and design company Houzz Inc., Israel and California-based automated payments startup Tipalti Solutions Ltd. and Audible Inc., acquired by Amazon in 2008.
Sunbit, which concentrates its operations in the U.S. but maintains a development center in Israeli town Binyamina, focuses on the American credit market and develops a payment method that allows stores in the U.S. to offer their customers the option to pay in installments.
Oren Zeev. Photo: John Todd
Currently, the company offers its service in about 1,500 stores in 40 U.S. states.