Katapult Holdings Inc. is a financial technology company that specializes in providing alternative financing solutions for consumers. It was founded in 2012 and is headquartered in New York City. The company offers lease-purchase options to consumers, allowing them to acquire essential goods and services through affordable monthly payments.
Katapult focuses on serving customers who may not have access to traditional credit or face challenges in obtaining financing. They partner with retailers across various industries, including electronics, furniture, appliances, and other consumer goods, to offer flexible payment options to their customers. By providing lease-purchase solutions, Katapult enables individuals to affordably purchase products while spreading the cost over time.
The company's technology platform simplifies the application and approval process, making it convenient for both consumers and retailers. Customers can apply for financing online or at participating retail locations, and upon approval, they can select their desired products and complete the lease agreement.
Katapult Holdings Inc. went public through a special purpose acquisition company (SPAC) merger in March 2021. The company combined with FinServ Acquisition Corp., a publicly traded SPAC, to become a publicly listed company on the NASDAQ under the ticker symbol "KPLT." The merger allowed Katapult to access capital markets and accelerate its growth strategy.
Through its lease-purchase model, Katapult aims to provide affordable and transparent financing options to consumers, enabling them to acquire the products they need without the burden of upfront costs. The company emphasizes its commitment to responsible lending practices and customer satisfaction.
With its innovative approach to consumer financing, Katapult continues to expand its partnerships with retailers and enhance its technology platform. The company strives to be a leader in the alternative financing space, catering to the evolving needs of consumers who seek accessible and flexible payment options for their purchases.