KPLT
- Katapult Holdings, Inc.
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Overview
Company Summary
Katapult Holdings, Inc. (KPLT) is a technology-driven consumer finance company that specializes in providing alternative financial solutions to customers for purchasing retail goods. The company primarily targets customers with limited or no access to traditional credit options, such as those with lower credit scores or thin credit files.
Katapult operates under a lease-to-own model, which allows consumers to acquire expensive retail items through a convenient payment plan. Customers can choose from a wide range of products, including electronics, appliances, furniture, and even exercise equipment. The company partners with various online and physical retailers across different industries to offer its services to a diverse customer base.
The process involves a simple application, quick approval, and flexible payment options tailored to the customer's budget and financial situation. Customers who are approved for a lease with Katapult can enjoy the benefits of immediate ownership while spreading out payments over a fixed term. Additionally, the company provides transparency on pricing and terms, ensuring customers understand the cost and obligations associated with their lease.
What sets Katapult apart is its proprietary underwriting platform that utilizes machine learning algorithms to assess the creditworthiness of applicants. By considering additional data points beyond traditional credit history, the company aims to include a broader range of customers who may have been excluded from traditional financing options.
Overall, Katapult Holdings, Inc. helps consumers with limited credit access to obtain essential or luxury items through a lease-to-own model, enhancing their purchasing power and financial flexibility while providing an alternative credit solution outside of traditional lending channels.