Sunbit Appoints Shai Terem as Chief Financial Officer

Los Angeles-based financial technology company Sunbit has announced the appointment of Shai Terem as chief financial officer. Terem brings more than 15 years of executive leadership, spanning growth strategy, financial operations and capital markets, which will be instrumental as Sunbit continues to scale its platform and prepares for its next phase of growth and maturity.

Terem most recently served as president and CEO of Markforged, where he led the company’s public listing with a $2.1-billion valuation, raising $425 million in the process. During his tenure, he oversaw strategic acquisitions, expanded the product portfolio and grew sales, while navigating the company through challenging macroeconomic cycles.

Earlier in his career, Terem held senior leadership positions as president Americas at Kornit Digital and VP finance & operations Americas at Stratasys, where he drove multi-region growth, led financial and operational transformations, and built high-performing teams across the Americas.

“Shai is a seasoned operator with deep experience leading public companies through critical growth inflection points,” said Arad Levertov, CEO and co-founder of Sunbit. “His expertise in scaling organizations, managing capital markets and building global teams will be invaluable as we continue to expand Sunbit’s reach and impact.”

“I’m excited to join Sunbit, a company I have followed and admired for many years, at such a pivotal moment,” said Terem. “Arad and his team have built a category-defining platform that makes everyday financing both accessible and transparent, enabling every American to make the most of their hard-earned money. I look forward to supporting Sunbit’s mission and unlocking new opportunities for growth.”

The appointment follows three consecutive profitable quarters, 35% year-over-year revenue growth and the completion of Sunbit’s inaugural asset-backed securitization (ABS) that brought its total funding capacity to more than $1.5 billion. Sunbit’s momentum, after exceeding 4.5 million+ transactions, continues to grow with a 100% quarter-over-quarter gross merchandise volume increase with its Stripe POS financing partnership and an expected 80% increase in year-over-year co-branded credit card receivables.

Content sourced from Businesswire. To learn more, contact media@sunbit.com.