Katapult mergers with FinServ Acquisition Corp.

The combined company (the ‘Company’) will operate as Katapult and plans to trade on Nasdaq under the new symbol ‘KPLT’.  Under the terms of the proposed transaction, FinServ will merge with Katapult at a pro forma combined enterprise value of approximately USD 1 billion and equity value of USD 962 million. The transaction is expected to close during H1 of 2021.

Katapult investment highlights:

• An ecommerce POS, lease purchase platform provider focused on the estimated USD 50 billion of annual nonprime consumer durable goods ecommerce spend; 

• Delivers a compelling value proposition to both consumers and merchants, transforming the way nonprime consumers shop for essential goods and enabling merchant access to this underserved segment;

• Proprietary technology platform, purpose-built for ecommerce, combining superior consumer and merchant experiences with powerful risk management capabilities and scalability;

• Established position in ecommerce ecosystem with significant platform support from top-tier ecommerce retailers, leading ecommerce platforms and lending partners;

• Profitable financial profile with approximately USD 250 million of projected revenue (+172% y/y) for 2020;

• Experienced management team who will continue leading the combined company.