Katapult

What Katapult does

Katapult Holdings, Inc. (NASDAQ: KPLT) is a digital lease-to-own fintech that enables subprime and non-prime U.S. consumers to acquire everyday essentials — primarily furniture, mattresses, electronics, jewelry, appliances, and home goods — through short-term leases that lead to ownership. The company was founded circa 2014, is headquartered in New York with a Plano, TX office, employs 51-100 people, and operates a consumer mobile app, a B2B retailer portal, the "Katapult Pay" virtual card, and a content hub called "Katapult Konnect." Its core technology is a proprietary AI/ML credit assessment engine that processes alternative financial data to render lease approval decisions in under five seconds without a hard credit check, with pre-approval amounts up to $3,500 and no late fees.

Katapult generates revenue primarily through recurring lease payments comprising principal, fees, and interest-equivalent charges, with a subscription-style recurring revenue profile and an early purchase option available after three months. Distribution is omnichannel: a direct-to-consumer app and website, e-commerce platform integrations (Shopify, Magento, Salesforce Commerce Cloud, WooCommerce, BigCommerce, nopCommerce, OpenCart), and point-of-sale integrations across 200+ retail partners including Amazon, Best Buy, Walmart, Target, Wayfair, IKEA, Lenovo, Mattress Firm, Casper, and Zales. Merchant onboarding is supported by a B2B sales team and increasingly by self-serve (e.g., the Shopify app, live in under an hour). The company has reported 14 consecutive quarters of growth, with Q1 2026 revenue of $79.0 million (~10% YoY) and Adjusted EBITDA of $6.4 million (~200% YoY improvement); 60% of customers are repeat purchasers and 1.5M+ customers have been approved to date.

In December 2025, Katapult announced a definitive all-stock merger agreement with The Aaron's Company and CCF Holdings LLC, expected to close in 2026, which would create a combined omni-channel platform with approximately $4 billion in pro forma LTM revenue, $450 million in pro forma LTM Adjusted EBITDA, roughly 3,000 retail touchpoints, and more than 7 million recently served customers. The company has faced securities-related scrutiny (an investigation by Halper Sadeh LLC tied to the merger), covenant compliance issues requiring multiple limited waivers under its loan agreement in 2026, and an IP settlement with Flexshopper in April 2026. Leadership includes CEO Orlando Zayas, CFO Nancy Walsh, CTO Chandan Chopra, President/CGO Derek Medlin, and newly appointed EVP of Omnichannel Development Maurice Edwards (May 2026).

Name

Katapult

Legal name

Katapult Holdings, Inc.

Website

https://katapult.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

51–100 employees

Short description

Katapult Holdings (NASDAQ: KPLT) operates a digital lease-to-own platform serving non-prime U.S. consumers, offering sub-five-second AI-driven approvals without credit checks across 200+ retailers including Amazon, Best Buy, Walmart, and Wayfair. The company is pursuing an all-stock merger with The Aaron's Company and CCF Holdings to form a $4B+ pro forma omni-channel durable goods and consumer finance platform.

Ownership category

akta.pro rank

Product category

Consumer Lease-to-Own Financing

NAICS

Consumer Goods Rental (5322)

SIC

Finance Lessors (6172)

akta.pro primary industry

Rent-to-Own / Lease-to-Own Short-Term Credit (FSAKAMAK)

akta.pro secondary industries

Merchant-Branded Installment Financing (Retailer Private-Label) (FSAKAFAA), Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)

Keywords

• Lease-to-own financing
• Consumer fintech
• Alternative credit
• Point-of-sale payments
• E-commerce lending

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Lease-to-Own Financing: Lease-to-own financing model where customers make recurring payments that lead to eventual ownership of the product. Customers can exercise an early purchase option after three months. Katapult earns revenue through the total lease payments which include principal, fees, and interest equivalent costs.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels3 records

Core offering

Katapult operates a digital lease-to-own payment platform that enables subprime and non-prime U.S. consumers to acquire furniture, electronics, mattresses, and other big-ticket items through flexible installment payments without traditional credit checks. The platform uses proprietary AI/ML technology to deliver approval decisions in under five seconds and is integrated into the checkout flows of 200+ retail partners. Merchants gain access to a previously underserved customer segment, while consumers receive pre-approval amounts up to $3,500 with no hidden fees or late charges.

Product overview

Katapult is an e-commerce focused financial technology company operating a digital lease-to-own (LTO) platform that enables subprime consumers to acquire everyday essentials through partner retailers without traditional credit checks. The core product is the Katapult Lease-to-Own Platform, which consists of a consumer-facing mobile app for approvals and payments, merchant partner integrations across major e-commerce platforms (Shopify, Magento, WooCommerce, Salesforce, BigCommerce), a retailer portal for partner management, and Katapult Pay virtual card functionality. The platform serves the underserved U.S. non-prime consumer segment in a market estimated at over $100 billion, offering flexible payment plans up to $3,500 with approval decisions in under 5 seconds. Katapult's proprietary AI and ML technology processes alternative financial data for credit assessment, and the company maintains a B2B content hub (Katapult Konnect) for industry insights and partner resources.

Differentiator

Problem solved

Functional benefit

Brands

• Katapult Pay: Virtual card payment solution offered by Katapult for lease-to-own transactions
• Katapult App

Products and services

• Katapult Lease-to-Own Platform Digital lease-to-own payment platform enabling subprime U.S. consumers to acquire everyday essentials (furniture, electronics, mattresses, appliances, jewelry) through e-commerce partners without traditional credit checks. Consumers receive AI-driven approval decisions in under five seconds, pre-approval amounts up to $3,500, flexible lease payment plans with a 3-month early purchase option, and no hidden fees or late charges. Used by 1.5M+ approved customers historically.
• Katapult Mobile App Consumer-facing mobile application available on iOS and Android (Google Play and Apple App Store) that enables shoppers to apply for lease approvals, browse 200+ partner retailers, receive virtual card details, and manage lease payments. Features include instant approval decisions, virtual card functionality for checkout, and access to lease limits for additional purchases.
• Merchant Partner Integration E-commerce platform integrations and retailer portal enabling merchants to offer Katapult's lease-to-own option at checkout. Includes off-the-shelf plugins for Shopify, Magento, WooCommerce, Salesforce Commerce Cloud, BigCommerce, nopCommerce, and OpenCart, plus custom direct integration options. Implementation ranges from under one hour (Shopify app install) to 1-3 weeks for enterprise platforms. Targets 200+ retail partners including Amazon, Best Buy, Walmart, Target, Wayfair, IKEA, and major furniture/mattress brands.
• Katapult Pay Virtual credit card feature allowing consumers to use their Katapult lease approval at partner retailers. Consumers download the Katapult app, receive virtual card details, and use the card for checkout at Wayfair and other partners as part of the financing waterfall. Extends lease approval utility beyond directly integrated merchants.
• Retailer Portal Back-end portal for retail partners to manage lease purchase agreements, review applications, track deliveries, process returns, and access performance analytics. Available 7 days a week with dedicated account management support. Includes developer API resources for custom direct integration.

Quantifiable outcome

• Five-second approval decisions
• +6 more outcomes

Named customers16 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability2 records

Feature1 record

Partnerships

18 partnerships are on record, tiered flagship, minor and core.

• The Aaron's CompanyflagshipStrategic or Co-development Partner · 1 January 2025Pending all-stock merger transaction where Katapult would combine with The Aaron's Company and CCF Holdings LLC to create a combined entity with over $4 billion in pro forma revenue, 3,000+ retail locations, and 7 million+ customers. The combined entity would have pro forma LTM Adjusted EBITDA of approximately $450 million.
• CCF Holdings LLCflagshipStrategic or Co-development PartnerCo-merger partner alongside The Aaron's Company in pending all-stock merger transaction to create combined entity with significant scale in lease-to-own and rent-to-own markets.
• Flexshopper, Inc.minorOthersPatent lawsuit settlement reached in April 2026, resolving intellectual property disputes between the two lease-to-own financing companies.
• ShopifycoreTechnology or IntegrationE-commerce platform integration enabling Katapult's lease-to-own payment option at checkout for Shopify merchants.
• WooCommercecoreTechnology or IntegrationE-commerce platform integration enabling Katapult's lease-to-own payment option at checkout for WooCommerce merchants.
• MagentocoreTechnology or IntegrationE-commerce platform integration enabling Katapult's lease-to-own payment option at checkout for Magento merchants.
• Salesforce Commerce CloudcoreTechnology or IntegrationEnterprise e-commerce platform integration enabling Katapult's lease-to-own payment option at checkout for Salesforce Commerce Cloud merchants.
• BigCommercecoreTechnology or IntegrationE-commerce platform integration enabling Katapult's lease-to-own payment option at checkout for BigCommerce merchants.
• AmazoncoreChannel Partner/ Reseller/ DistributorMajor retail partner offering Katapult's lease-to-own financing option to customers purchasing furniture, electronics, and other eligible products on Amazon.com.
• Best BuycoreChannel Partner/ Reseller/ DistributorMajor retail partner offering Katapult's lease-to-own financing option to customers purchasing electronics and appliances in-store and online.
• WalmartcoreChannel Partner/ Reseller/ DistributorMajor retail partner offering Katapult's lease-to-own financing option to customers purchasing furniture, electronics, and other eligible products at Walmart.
• TargetcoreChannel Partner/ Reseller/ DistributorMajor retail partner offering Katapult's lease-to-own financing option to customers purchasing furniture and home goods at Target.
• WayfaircoreChannel Partner/ Reseller/ DistributorMajor e-commerce furniture retailer offering Katapult's lease-to-own financing option to customers purchasing furniture and home goods on Wayfair.com.
• LenovocoreChannel Partner/ Reseller/ DistributorTechnology hardware partner offering Katapult's lease-to-own financing option to customers purchasing laptops and computers from Lenovo.
• IKEAcoreChannel Partner/ Reseller/ DistributorMajor furniture retailer offering Katapult's lease-to-own financing option to customers purchasing furniture and home goods at IKEA.
• Mattress FirmcoreChannel Partner/ Reseller/ DistributorMajor mattress retailer offering Katapult's lease-to-own financing option to customers purchasing mattresses and bedding.
• CaspercoreChannel Partner/ Reseller/ DistributorMattress and sleep products retailer offering Katapult's lease-to-own financing option to customers purchasing Casper mattresses and sleep products.
• ZalescoreChannel Partner/ Reseller/ DistributorJewelry retailer offering Katapult's lease-to-own financing option to customers purchasing jewelry through Zales.

Scale indicators18 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Affirm: Largest U.S. POS financing/BNPL platform offering installment credit at online checkout across many of the same merchants Katapult serves (Wayfair, Amazon-adjacent retailers). Directly competes for checkout button placement and merchant shelf space, though Affirm is credit-based while Katapult is lease-based.
• Progressive Leasing (PROG Holdings): Largest U.S. virtual lease-to-own provider serving subprime consumers at retail point-of-sale. The most direct comparable to Katapult's core LTO model, with similar customer base, merchant categories (furniture, electronics, appliances), and revenue mechanics (lease payments over time).
• The Aaron's Company: Traditional rent-to-own operator and Katapult's announced merger partner. Directly comparable in product (rent/lease-to-own for furniture, electronics, appliances), customer segment (non-prime), and revenue model — combined, they form a $4B+ pro forma entity in the same LTO market.
• Acima Credit (Rent-A-Center subsidiary): Virtual lease-to-own provider acquired by Rent-A-Center, serving the same non-prime customer base across furniture, electronics, tires, and home goods at point-of-sale. Operates in the same competitive set as Katapult for both merchant and consumer mindshare.
• Flexshopper: Direct lease-to-own competitor for subprime consumers purchasing furniture, mattresses, electronics and appliances online. Recently settled patent litigation with Katapult, indicating overlapping IP footprints and competing products in the same niche.
• Klarna: Major BNPL provider competing for the same merchant checkout real estate (e.g., Wayfair financing waterfall). While Klarna is installment-credit based, it increasingly targets non-prime segments with pay-in-later products that overlap with Katapult's lease-to-own use cases.
• Afterpay (Block, Inc.): BNPL pioneer owned by Block, integrated at checkout across large U.S. retailers. Competes with Katapult for the same POS slot at merchants and for non-prime consumer mindshare, though structured as interest-free installments rather than LTO.

Emerging players

• Sezzle: Smaller U.S./Canada BNPL provider that has expanded into longer-duration installment products and non-prime segments via products like Sezzle Anywhere. Overlaps with Katapult at the subprime end of BNPL and competes for similar merchants.
• Zip (formerly QuadPay): BNPL provider operating in the U.S. market with installment offerings at retail checkout. Increasingly targeting non-prime cohorts, creating indirect competition for Katapult among merchants seeking an alternative to credit cards.

Broad incumbents

• Rent-A-Center: Largest traditional brick-and-mortar rent-to-own operator and parent of Acima (virtual LTO). Operates the same underlying business model as Katapult (lease-to-own for furniture, electronics, appliances) but at much larger legacy scale and with a physical store footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/katapultpay
• Facebookfacebook.com/katapult.pay
• LinkedInlinkedin.com/company/katapultpay

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds8 records

Investors11 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Katapult