Katapult is an omnichannel point-of-sale payment platform that offers lease-to-own payment plans without requiring credit checks, enabling consumers to acquire products immediately while making manageable payments. The platform simplifies the purchasing process for retailers and customers by providing transparent payment options and quick approval decisions, addressing the need for accessible financing solutions.
Funding
$150M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
NBTGFounders
Product
Problem
Many consumers lack the credit scores necessary to qualify for traditional financing options, limiting their ability to purchase essential goods like furniture, appliances, and electronics. This restricts access to necessary items and can hinder their quality of life.
Solution
Katapult provides a lease-to-own payment platform that allows consumers to acquire products from a wide network of retailers without requiring a credit check. Customers apply for pre-approval, shop at participating retailers either online or in-store, and select Katapult as their payment method at checkout. Katapult then purchases the item and leases it to the customer, who makes manageable payments over time with options to purchase the item early or return it. The platform offers a transparent payment structure with no late fees, providing an accessible financing solution for consumers with limited credit.
Target Audience
The primary target audience is consumers with low or no credit scores who need an alternative financing option to purchase essential goods from a variety of retailers.
Features
- Lease-to-own payment plans up to $3,000
- No credit required for approval
- Fast approval decisions in seconds
- Access to a marketplace of 200+ retailers
- Flexible payment schedules to fit individual needs
- 90-day early purchase option for significant savings
- Mobile app for managing leases and payments
- No late fees