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Oren Zeev Leads $26 Million Round in Payment Installments Startup Sunbit

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

Meir Orbach  :  2019-06-13T10:15:28..
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.

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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 Oren Zeev. Photo: John Todd Oren Zeev. Photo: John Todd

Currently, the company offers its service in about 1,500 stores in 40 U.S. states.

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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.
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