Katapult and 1StopBedrooms Partner to Provide Qualified Nonprime Consumers with Lease-Purchase Options for Home Furniture and Décor Needs

Rhea-AI Summary

Katapult partners with furniture supplier 1StopBedrooms to provide lease-to-own options, improving access for nonprime consumers seeking quality home furnishings. The partnership allows customers to enjoy flexible purchasing despite limited credit options, enhancing their shopping experience with transparent lease-purchase plans.

Katapult's technology streamlines online integration for merchants, driving higher transaction volumes and customer loyalty. This collaboration reflects Katapult's commitment to expanding consumer access in the furniture market while promoting financial inclusivity.

Positive

• Partnership with 1StopBedrooms expands consumer access to quality furniture for nonprime customers.
• Katapult's lease-to-own solution offers flexibility and transparency, attracting more shoppers for merchants.
• The integration of Katapult's technology can increase transaction volumes for participating retailers.

Negative

• None.

PLANO, Texas, Sept. 15, 2022 (GLOBE NEWSWIRE) -- Katapult, a leading lease-to-own provider that integrates with major e-commerce platforms to power online shopping for nonprime customers, has added furniture supplier, 1StopBedrooms, to its growing list of merchants. The partnership will help consumers, particularly those with little or no access to credit, obtain durable and high-quality furniture and home accessories in all home categories -- from mattresses and sofas to rugs and lamps.

Katapult provides consumers with transparent, flexible, and convenient lease-purchase options that enable them to obtain the items they need but might not have acquired otherwise. Additionally, Katapult provides consumers with a seamless, customer-centric, and simple checkout experience and more choice in the products they are looking for.

“Our new partnership with Katapult will help us ensure that all our customers, especially those who may not qualify for prime financing, comfortably purchase the well-made, classic furniture and mattresses that 1StopBedrooms is known for,” said Jeffrey Gadel at 1StopBedrooms. “With Katapult’s help, more people, particularly those who may not have been able to shop with us before, will have the flexibility and options they need to obtain the furniture they want.”

Katapult’s lease-purchase solution integrates seamlessly with online platforms from merchants across several durable goods sectors, including furniture, mattresses, consumer electronics, tires, and more. Funding is quick and easy and there is little work to be done on the merchant’s part to implement the payment option. Additionally, retailers that offer Katapult can attract and convert more shoppers, increase transaction volume, and build customer loyalty.

“Decorating and furnishing are personal ways that all of us turn a house into a home,” said Orlando Zayas, CEO at Katapult. “With 1StopBedrooms as a new merchant partner, we can provide additional consumers with greater choices in their furniture purchasing experience, even if they do not have pristine credit. Lease-to-own offers consumers the flexibility they may need to acquire home furnishings that reflect their lifestyle while keeping their monthly expenses in check.”

To keep up with recent announcements, visit Katapult's News page. To learn more about Katapult, click here.

About Katapult
Katapult (NASDAQ: KPLT) is transforming the world of lease-to-own with transparent lease-purchase plans that flex to meet the needs of millions of Americans who are overlooked by traditional credit. With proprietary artificial intelligence (AI) and machine learning (ML) risk-modeling technology, Katapult predicts consumer behavior more accurately than traditional credit scores—providing new paths to ownership for people and new customers for omnichannel retailers. Katapult ensures exceptional experiences with seamless integration, both directly with merchants and through ecommerce platforms, and award-winning customer service. Visit www.katapult.com to learn more.

About 1StopBedrooms
1StopBedrooms is a better furniture buying experience. As veterans of the furniture industry for more than 20 years, we think your online furniture buying experience should be efficient, simple, and enjoyable. That’s why we’ve built custom systems & technologies that allow us to offer just that. When you shop with us, you get competitive pricing, predictive tracking and superior customer service — all built into an intuitive and streamlined site.

Investor Inquiries:
Katapult Vice President of Investor Relations
Bill Wright
917-750-0346
bill.wright@katapult.com

Press Inquiries:
Allison + Partners
908-930-0835
katapult@allisonpr.com

FAQ

What is the significance of Katapult's partnership with 1StopBedrooms on KPLT stock?

The partnership enhances Katapult's offering, potentially improving transaction volume and market reach.

How does Katapult's lease-to-own service work with 1StopBedrooms?

Katapult provides flexible, transparent lease-purchase options for customers at 1StopBedrooms, improving access for those with limited credit history.

What impact might the 1StopBedrooms partnership have on Katapult's revenue?

The partnership could drive increased sales and customer loyalty, potentially boosting Katapult's revenue from the furniture sector.

What are the main products available through Katapult's lease-to-own service?

Katapult's service covers a range of products including furniture, mattresses, and home accessories.

How does Katapult support consumers with limited credit through its services?

Katapult utilizes AI and ML technology to predict consumer behavior, offering alternatives to traditional credit scoring.