PLANO, Texas, Nov. 29, 2023 (GLOBE NEWSWIRE) -- Katapult Holdings, Inc. (NASDAQ: KPLT), an e-commerce-focused financial technology company, has launched an exciting new partnership with Grown Brilliance, a pioneer in ethically engineered lab-grown diamonds. Under the terms of the partnership, Grown Brilliance has integrated Katapult's innovative lease-to-own (LTO) solution into its payment checkout flow, which expands the variety of durable goods that can be obtained using Katapult’s lease offering. The partnership is expected to create a pathway for underserved consumers to acquire high-quality, lab-grown diamonds at www.grownbrilliance.com.
"Grown Brilliance has teamed up with Katapult to provide access to consumers who may have faced financial limitations that prohibited them from exploring and purchasing our luxury, lab-grown diamonds in the past," said Tom Bergan, Vice President, E-commerce at Grown Brilliance. "We understand that our jewelry is central to so many celebrated moments in our customers’ lives, including engagements, weddings, anniversaries, birthdays and more. A special piece of jewelry has the power to transform how you look and feel, and we are excited to partner with Katapult to bring that power to more customers.”
Katapult offers a scalable omnichannel LTO solution that provides its merchant partners with access to a new consumer base that previously may not have had the purchasing power to buy their durable goods. Katapult’s LTO solution provides significant benefits to consumers including:
- Customers understand the full cost of the product ownership up-front. There are no late fees, ever.
- No long-term obligations for the customer – they can either make recurring payments toward owning the item outright or return it at any time.
- Financial flexibility that can make LTO more attractive and accessible than traditional financing.
"We are excited to collaborate with Grown Brilliance to broaden access to their luxury engineered diamonds," said Orlando Zayas, CEO of Katapult. "Our lease-to-own solution is a fantastic option for merchants looking to tap into a new consumer base and empower consumers who are often underserved by traditional financing avenues."
Hundreds of merchants are already leveraging Katapult’s LTO solution to help expand their businesses. Key merchant benefits of a partnership with Katapult include:
- Merchants have access to new shoppers who can drive incremental sales
- Higher conversion rates and lower cart abandonment
- Opportunities to drive repeat customer purchase rates up
- No merchant recourse from customer defaults
- Katapult covers all interchange costs related to the transaction
- No risks from out-of-window returns
If you are a retailer interested in directly integrating Katapult’s LTO solution to boost your business and customer base, please contact sales@katapult.com. Consumers interested in unlocking financial purchasing power through personalized lease-to-own plans can download our app in the Apple App Store or Google Play. For more information on our LTO offering, consumers can also visit our website.
About Katapult
Katapult Holdings, Inc. (NASDAQ: KPLT) is a technology driven lease-to-own platform that integrates with omni-channel retailers and e-commerce platforms to power the purchasing of everyday durable goods for underserved U.S. non-prime consumers. Through our point-of-sale (POS) integrations and innovative, mobile app featuring Katapult Pay™, consumers who may be unable to access traditional financing can shop a growing network of merchant partners. Our process is simple, fast, and transparent. We believe that seeing the good in people is good for business, humanizing the way underserved consumers get the things they need with payment solutions based on fairness and dignity.
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Katapult
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