Demystifying a BNPL startup

Arad Levertov, Sunbit

Today’s guest is someone who was new the US but had a great job and was making good money. So imagine how surprised and embarrassed he was when he was turned down for a Costco credit card when shopping with his family.

That experience led him to look deeper into the market and see that there was a big opportunity to make credit more available for non-discretionary purchases.

Arad Levertov is the founder of Sunbit, a buy now, pay-over-time solution. I invited him here to find out how he did it.

Arad Levertov

Sunbit

Arad Levertov is the founder of Sunbit, a buy now, pay-over-time solution.

Andrew: Hey there, freedom fighters. My name is Andrew Warner. I’m the founder of Mixergy where I interviewed entrepreneurs, but where I still do interview entrepreneurs about how they built their business. Um, a few years ago I offered a course for, we decided to go all out and we offered it for over a couple of thousand dollars and it was selling well.

And then someone on our team said, Andrew, you should offer a payment plan. And I said, Hm, I’m not so sure then someone. In the audience said you should offer a payment plan. I thought payment paying planets $2,000. Plus people have their credit cards. What do they need me to give them a payment plan for.

But it was pushed so much that I finally decided to give it a shot and sure enough, the payment plan was such a powerful option that I almost could have gotten rid of the pay once because so many people are taking it. And that’s when I realized that there’s an opportunity to break up...

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