Sunbit Snags $130M, Joins Unicorn Club

Los Angeles-based Sunbit, a developer of technology that offers up financing at the point of purchase for auto dealership service centers, optical practices, dentist offices and specialty healthcare services, says it has raised $130M in a Series D funding round. The company says the new funding gives it a $1.1 billion valuation. The funding was led by Group 11, and also included Zeev Ventures, plus new investors Migdal Insurance, Harel Group, AltaIR Capital, and More Investment House. The company said that Guy Fischer, Chief Investment Officer for Migdal Insurance, has joined the company's board as an observer. Sunbit is led by CEO and co-founder Arad Levertov.