Katapult Holdings Business Summary

Katapult Holdings, Inc. (KPLT) operates as a financial technology company specializing in lease-to-own (LTO) solutions for non-prime consumers, primarily generating revenue through recurring lease payments and transaction fees from its merchant-integrated platform. The company’s business model focuses on durable goods—such as electronics, furniture, and appliances—facilitated through its proprietary Katapult Pay mobile app and direct point-of-sale (POS) integrations. As of February 2026, Katapult is undergoing a transformative all-stock merger with The Aaron's Company and CCF Holdings, a deal expected to close in H1 2026 that will create a massive omni-channel entity with over $4 billion in pro forma annual revenue. Its primary direct competitors include PROG Holdings (Progressive Leasing), Affirm Holdings, and Upbound Group (Rent-A-Center); Katapult distinguishes itself by bridging the gap between traditional subprime lending and digital-first POS financing, positioning itself as a dominant player in the underserved non-prime credit market. The current leadership team is led by CEO Orlando Zayas, who previously served as CEO of DRB Capital and President of TEMPOE, and President/Chief Growth Officer Derek Medlin, a former Executive Director at JPMorgan Chase. The executive suite is rounded out by CFO Nancy Walsh, whose pedigree includes senior finance roles at LL Flooring, Pier 1, and Coach, and CTO Chandan Chopra, who oversees the firm’s technology infrastructure. Upon the completion of the pending merger, Cory Miller (current CEO of Aaron's) is slated to become the CEO of the combined entity, with Zayas transitioning to the Board of Directors. Notable institutional backing includes a recent $65 million investment from Hawthorn Horizon Credit Fund, alongside significant positions held by Iridian Asset Management and The Vanguard Group, reflecting strong institutional confidence in the company’s scaled-up market trajectory.