Sunlight
Sunlight is a fintech company based in Tel Aviv-Yafo, Israel, and San Francisco, USA, specializing in increasing card spend and usage through a universal API that updates card-on-file information across various platforms.
Company Background
Sunlight operates in the fintech sector, focusing on increasing card spend and usage from Day 1 by boosting transaction volume and capturing more interchange revenue. The company was launched on June 22, 2022 and is part of Y Combinator's S22 batch. Sunlight is located in Tel Aviv-Yafo, Tel Aviv District, Israel, and San Francisco, CA, USA. The team consists of 5 members and the company serves various regions, including Israel, the United States, the Middle East and North Africa, and America/Canada. Sunlight also offers remote and partly remote services.
Services and Products
Sunlight provides a universal get-your-card-on-file API for financial institutions. This API works on every platform that has a card-on-file option, such as Uber, Amazon, Netflix, DoorDash, and Starbucks. The API is reported to be as seamless as a Plaid connection, reliably getting the card number and CVV code right on the first try. Sunlight additionally offers real-time notifications every time a card is saved in a new service and rewards users who update their card in multiple services. The company targets fintechs to ensure their cards become top-of-wallet as soon as they're issued.
Data Security
Sunlight prioritizes data security by encrypting data at rest and in transit using tools like Amazon Web Services' Key Management System (KMS). The company engages industry-leading security experts for third-party penetration tests. Sunlight utilizes high-quality security tooling provided by Snyk Advanced Security and Bitbucket Secret scanner. Their application is hosted on Amazon Web Services, leveraging embedded security products like KMS, GuardDuty, and Inspector to ensure comprehensive protection.
Market Reach and Regions Served
Sunlight serves a diverse range of regions including Israel, the United States, the Middle East and North Africa, as well as America/Canada. The company offers its services both remotely and in a partly remote capacity, making it accessible to a wider audience. According to reports, 79% of consumers worldwide had at least one payment card saved with a service or were open to doing so in 2021, highlighting the broad market potential for Sunlight's offerings.
Investor Backing
Sunlight is backed by leading investors and innovators in the Fintech space, which strengthens its position in the competitive industry. Being part of Y Combinator's S22 batch further adds to its credibility and potential for growth. This backing ensures that Sunlight is well-positioned to continue innovating and expanding its offerings in the fintech sector.
