Sunbit Ranks No. 30 on Inc. Magazine’s List of the Pacific Region’s Fastest-Growing Private Companies
Companies on the 2024 Inc. 5000 Regionals: Pacific list had an average growth rate of 162.77 percent.
LOS ANGELES–(BUSINESS WIRE)–Inc. magazine today revealed that Sunbit is No. 30 on its fourth annual Inc. 5000 Regionals: Pacific list, the most prestigious ranking of the fastest-growing Pacific private companies, based in California, Oregon, Washington, Hawaii, Alaska. Born of the annual Inc. 5000 franchise, this regional list represents a unique look at the most successful companies within the Pacific economy’s most dynamic segment– its independent small businesses.
Arad Levertov, CEO of Sunbit, said, “The Pacific region is home to some of the country’s most relevant and influential companies, many of which earned recognition on this list in years past. We are both humbled and proud to be among the Pacific leaders honored today. Even as we have brought in-person BNPL and the Sunbit Card to millions of consumers nationwide, we remain deeply rooted in Southern California.”
The companies on this list show a remarkable rate of growth across all industries in the Pacific region. Between 2020 and 2022, these 170 private companies had an average growth rate of 162.77 percent; by 2023, they’d also added 10,689 jobs and $5.5 billion to the region’s economy.
Complete results of the Inc. 5000 Regionals: Pacific, including company profiles, can be found at inc.com/Pacific starting February 27, 2024. You’ll also find an interactive database that can be sorted by industry, metro area, and other criteria.
“The honorees in our Inc. 5000 network are the Who’s Who of private companies. They’re energizing regional economies as they engineer the future of their industries. Learn who they are and what they do — they’ll be impacting things for a while,” said Eric Hagerman, Special Projects Editor at Inc. Media.
Sunbit builds financial technology for everyday expenses. We offer access to a next-generation, no-fee credit card that can be managed through a powerful mobile app and a leading BNPL solution built for in-person everyday transactions.
By creating fast, flexible experiences in spaces dominated by traditional credit cards, Sunbit technology drives inclusivity, with 90% of applicants approved within 30 seconds – a standout in an industry known for declining approval rates.
Sunbit has served more than 2.6 million loan customers (end of 2023), managing $1 billion in loans annually. It is the dominant (45% of auto services) or fastest-growing solution (dental) in its verticals. With its b2b2c model, Sunbit reaches consumers through merchant partners and retail brands.
Sunbit recently closed its largest transaction to date with a $310 million warehouse debt facility from Citibank and Century City-based Ares Capital Management.
More about Inc. and the Inc. 5000 Regionals
Methodology
The 2024 Inc. 5000 Regionals are ranked according to percentage revenue growth when comparing 2020 and 2022. To qualify, companies must have been founded and generating revenue by March 31, 2020. They had to be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2022. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2020 is $100,000; the minimum for 2022 is $1 million. As always, Inc. reserves the right to decline applicants for subjective reasons.
About Inc. Media
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers and the credibility that helps them drive sales and recruit talent.
The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.
