Los Angeles-based finance and retail company Sunbit has secured $26 million in Series B funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced on June 12 and led by Zeev Ventures.
According to its Crunchbase profile, "Sunbit is a fundamentally new way to pay that eliminates financial waste while providing the best possible experience for retailers and customers. Sunbit is the simplest and quickest way for retailers to split a purchase into multiple payments, increasing sales and extending the buying power of customers so that retailers earn more while customers pay less."
The three-year-old startup has raised three previous funding rounds, including a Series A round in 2017.
The round brings total funding raised by Los Angeles companies in commerce and shopping over the past 90 days to $31 million. The local commerce and shopping industry has produced 58 funding rounds over the past year, securing a total of $378 million in venture funding.
In other local funding news, food delivery and personalization company Halla announced a $1.4 million seed funding round on May 15.
According to Crunchbase, "Halla is the only software company that dynamically profiles human taste to help people make better choices."
Founded in 2016, the company has raised three previous rounds, including a $250,000 seed round in 2018.
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