Sunbit Makes Second Appearance on the Inc. 5000, at No. 576 in 2023, With Three-Year Revenue Growth of 1021% Percent
Inc. revealed today that Sunbit ranks No. 576 on the 2023 Inc. 5000, its annual list of the fastest-growing private companies in America.
LOS ANGELES, Aug. 15, 2023 /PRNewswire-PRWeb/ — Inc. revealed today that Sunbit ranks No. 576 on the 2023 Inc. 5000, its annual list of the fastest-growing private companies in America. The prestigious ranking provides a data-driven look at the most successful companies within the economy’s most dynamic segment—its independent, entrepreneurial businesses. Facebook, Chobani, Under Armour, Microsoft, Patagonia, and many other household name brands gained their first national exposure as honorees on the Inc. 5000.
“Moments like these are incredibly exciting for the entire Sunbit team. Our commitment to innovating for good, serving others before self, and inclusivity has been unwavering since our founding. Seeing the impact of our commitments and efforts being recognized for the second time by Inc. 5000 offers an opportunity to reflect on the real world value we’re delivering to customers and merchants– day over day and year over year,” said Arad Levertov, CEO, Sunbit.
The Inc. 5000 class of 2023 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median three-year revenue growth rate ticked up to an astonishing 2,238 percent. In all, this year’s Inc. 5000 companies have added 1,187,266 jobs to the economy over the past three years.
For complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, location, and other criteria, go to http://www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc. magazine, available on newsstands beginning Tuesday, August 23.
“Running a business has only gotten harder since the end of the pandemic,” says Inc. editor-in-chief Scott Omelianuk. “To make the Inc. 5000—with the fast growth that requires—is truly an accomplishment. Inc. is thrilled to honor the companies that are building our future.”
With more than 2 million loans generated through in-person transactions as of Q2 2023, Sunbit’s expansion directly reflects its increasing adoption, industry endorsements, and strategic technology integrations.
Sunbit’s unique point-of-sale technology has now been successfully integrated into over 20,000 brick-and-mortar locations across the United States, revolutionizing how consumers handle unexpected expenses. Today, Sunbit is the de facto leader in financing technology within the automotive fixed operations industry, used in over 40% of auto dealership service centers and over 9,000 dental locations, where demand for Sunbit’s technology is driving hundreds of millions annually in gross sales for merchants across the Sunbit network. The by-invitation-only Sunbit Card has shown promising cardholder growth and will be unlocked for the general public in 2024.
Sunbit’s impact extends beyond individuals, positively impacting merchants’ financial performance. With over 130,000 service professionals certified to offer Sunbit’s technology, merchants are better equipped to deliver an exceptional customer financing experience and foster loyalty.
Sunbit builds financial technology for real life. Our technology eases the stress of paying for life’s expenses by giving people more options on how and when they pay. Sunbit offers a no-fee credit card that can be managed through a powerful mobile app and a point-of-sale payment option available at more than 20,000 service locations, including auto dealership service centers, optical practices, dentist offices, veterinary clinics, and specialty healthcare services. Sunbit is a two-time Inc. 5000 honoree. The financial technology company was also named a Most Loved Workplace®, Best Point of Sale Company, A NA. Deloitte Technology Fast 500 company, and a Top Fintech Startup by CB Insights.
More about Inc. and the Inc. 5000
Companies on the 2023 Inc. 5000 are ranked according to percentage revenue growth from 2019 to 2022. To qualify, companies must have been founded and generating revenue by March 31, 2019. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2022. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2019 is $100,000; the minimum for 2022 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places.
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work reaches more than 50 million people across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit http://www.inc.com.
For more information on the Inc. 5000 Conference & Gala, slated for October 31 – November 2 in San Antonio, visit http://conference.inc.com/.