Katapult is a technology-driven lease-to-own platform that serves nonprime U.S. consumers by integrating with omnichannel retailers and e-commerce channels to offer flexible lease-purchase arrangements for durable goods including furniture, appliances, and electronics. The company generates revenue from recurring payment streams on leased items, with customers typically paying approximately twice the cash price to own merchandise over lease terms of 12–18 months, while employing fully automated underwriting powered by proprietary machine-learning models rather than traditional credit scores. Katapult reaches customers through direct merchant integration via APIs, financing platform partnerships, a proprietary virtual card technology called KPay, and text-to-checkout for in-store transactions, operating on a cloud-native technology platform with minimal overhead that enables operational leverage as transaction volumes scale.