Interview: Sunbit CEO & Fintech Veteran Arad Levertov
May 15, 2025
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Arad Levertov, cofounder and CEO of Sunbit, shares his insights from a decade in the fintech realm. He explains how Sunbit stands out in the crowded buy now, pay later market with unique underwriting methods that approve 9 out of 10 applicants. Arad discusses the importance of distribution in lending and how Sunbit adapts to macroeconomic shifts. He also highlights their zero-percent financing options and innovative operations connecting 26,000 merchants to personalize finance solutions, aiming for inclusivity and a better customer experience.
Sunbit excels in the BNPL market by focusing on essential service financing and offering rapid approvals to 90% of applicants.
The company’s innovative underwriting and strategic product expansion, including co-branded credit cards, enhance customer engagement and financial accessibility.
Deep dives
Sunbit's Unique Approach to BNPL
Sunbit distinguishes itself in the buy now, pay later (BNPL) market by focusing on real-life applications where customers need financing for essential services, such as car repairs and medical procedures. Unlike some BNPL options that primarily target online purchases, Sunbit integrates its technology into physical locations, enabling faster approvals in about 30 seconds for approximately 90% of applicants. This approach not only helps consumers access credit where they need it most but also alleviates the burden of extensive fees and high interest rates typically associated with traditional credit cards. Sunbit's model, described as "FinTech for Real Life," aims to eliminate financial waste by passing savings back to both merchants and consumers, making financing more efficient and accessible.
Innovative Underwriting and Approval Process
Sunbit utilizes a sophisticated underwriting process to enhance customer approval rates while managing credit risk effectively. The application process is designed to be frictionless; customers simply scan their driver's licenses, allowing Sunbit to access necessary information in real-time, which results in swift approvals. By analyzing customer behavior based on purchase location and transaction type, Sunbit can tailor financing options based on the individual needs of the customer. This level of personalization not only improves approval rates but also ensures that customers receive offers aligned with their financial capabilities, leading to higher overall satisfaction.
Expanding Offerings through Co-branded Cards
Sunbit is strategically expanding its product lineup beyond BNPL loans by introducing co-branded credit cards in partnership with retailers. This approach leverages their existing customer base and allows for cross-selling of credit products, which can enhance customer loyalty and engagement. By ensuring that their credit card offerings come without hidden fees, late charges, or complex terms, Sunbit caters to a broader audience, including those with varying credit scores. This diversification not only strengthens Sunbit's business model but also enriches the customer experience by providing them more options for financial tools.
Adapting to Economic Changes and Trends
Sunbit monitors economic indicators closely to adapt to market fluctuations and changing consumer behaviors. With a diversified customer base, Sunbit can detect early signs of financial strain among vulnerable segments, allowing them to tighten credit criteria and adjust offers proactively. By maintaining strong relationships with merchants, Sunbit stays informed about retail trends, including traffic patterns and customer needs, which can signal when to introduce financial products. This responsiveness ensures that Sunbit is positioned to support both consumers and businesses during economic shifts, helping them navigate challenges and capitalize on opportunities.
In this episode, I had the chance to talk with Arad Levertov, cofounder and CEO of buy now, pay later lender Sunbit. Arad started Sunbit 10 years ago — long before BNPL as we know it today exploded in popularity during the early days of the COVID pandemic. Arad and I had a chance to discuss:
* What differentiates Sunbit from other BNPL providers in a crowded market
* Why distribution is key in lending, particularly in BNPL
* Sunbit’s unique approach to underwriting borrowers that allows it to approve 9 out of 10 applicants
* How Sunbit stays ahead of emerging macroeconomic shifts
