Poly & Bark Joins Katapult’s Retailer Network Which Provides Lease-Purchase Options for Non-prime Consumers

Rhea-AI Summary

Katapult has partnered with Poly & Bark to provide a lease-to-own option for customers, enhancing access to quality furniture for non-prime consumers. This collaboration aims to offer transparent, customer-focused payment solutions, allowing Poly & Bark to attract a broader customer base. The initiative supports underserved segments, fostering brand loyalty and increasing sales. Katapult's platform seamlessly integrates with e-commerce, ensuring a smooth checkout process for consumers while allowing retailers to focus on growth.

Positive

• Katapult's lease-to-own option increases access to quality furniture for non-prime consumers.
• Partnership enhances customer acquisition and growth opportunities for Poly & Bark.
• Transparent payment solutions contribute to customer loyalty and satisfaction.

Negative

• None.

Furniture retailer Poly & Bark selects Katapult to offer a transparent lease-to-own option to its customers

PLANO, Texas, Feb. 16, 2022 (GLOBE NEWSWIRE) -- Katapult, a lease-to-own platform that integrates with major e-commerce platforms to power online shopping for non-prime customers, has selected Poly & Bark, a furniture retailer, to join its retailer network to give shoppers more options when looking to obtain quality furniture and to help non-prime customers gain access to durable goods, including furniture.

Katapult’s lease-to-own solution will provide Poly & Bark the ability to offer transparent, customer-centric lease-purchase options and access more customers who previously may not have had a way to purchase the goods they need.

“We are excited to collaborate with Katapult because of the alignment our brands share when it comes to transparency and the high level of customer service that we both provide to ensure the consumer is taken care of at every interaction,” said Dov Coleman, CEO of Poly & Bark. “By joining Katapult’s retailer network, it will allow us to support more consumers who may not have been able to afford the necessary goods that we offer without a lease-to-own option and provide them with access to beautiful, well-made furniture.”

Katapult partners with e-commerce and omnichannel retailers to increase growth and customer loyalty. Retailers that have implemented lease-purchase POS payment solutions are now able to reach and convert new shoppers, increase transactions, and gain customer loyalty.

Katapult offers its lease-purchase solution that integrates seamlessly with online platforms to retailers across several durable goods sectors. Funding is quick, so retailers spend energy attracting new customers and growing, and consumers get a seamless checkout experience and the products they need.

“Our new agreement with Poly & Bark supports our mission of supporting underserved customer segments and providing non-prime customers a way to access goods from retailers they trust,” said Marino Ruiz, Vice President of Sales at Katapult. “Forward-thinking retailers are implementing lease-to-own options to help boost sales and give consumers flexibility and options to obtain the goods they need at a clearly defined price – a beneficial strategy for both retailers and consumers in today’s rapidly changing retail landscape.”

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

About Katapult
Katapult (NASDAQ: KPLT) is an omnichannel lease-purchase platform, providing alternative solutions for retailers and consumers. As a financial technology company, Katapult provides cutting-edge technology that integrates seamlessly with online platforms, enabling our retail partners to expand their customer base, increase transactions, and grow revenue. Katapult's consumer-centric focus ensures an efficient application and approval process while providing transparent and tailored payment terms. Katapult associates with hundreds of retailers across the United States, with merchant support teams, marketing insights, and suggestions for continued success.

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

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FAQ

What is the partnership between Katapult and Poly & Bark about?

Katapult has partnered with Poly & Bark to provide a lease-to-own option for customers, enhancing access to furniture for non-prime consumers.

How will the lease-to-own option from Katapult impact Poly & Bark customers?

The lease-to-own option will provide Poly & Bark customers with a transparent and flexible payment solution, making it easier for non-prime consumers to access quality furniture.

What benefits does Katapult offer to Poly & Bark?

Katapult offers a customer-centric lease-to-own solution that helps Poly & Bark attract more customers and increase sales through transparent payment options.

When was the partnership between Katapult and Poly & Bark announced?

The partnership between Katapult and Poly & Bark was announced on February 16, 2022.

What is the stock symbol for Katapult?

Katapult is traded under the stock symbol KPLT.

Does the partnership with Poly & Bark affect Katapult's stock performance?

The partnership is likely to enhance Katapult's market position by expanding its retailer network, potentially influencing its stock performance positively.