Katapult Promotes Derek Medlin to President and Chief Growth Officer
22 Août 2024 - 1:00PM
Katapult Holdings, Inc. (“Katapult” or the “Company”) (NASDAQ:
KPLT), an e-commerce focused financial technology company, today
announced that it has promoted Derek Medlin to the newly created
role of president and chief growth officer (CGO).
In this role, Derek will lead the business development,
marketing and operations teams at Katapult, with a focus on
accelerating gross originations and revenue growth while continuing
to drive operational efficiencies and productivity. One of Derek’s
core responsibilities will be to help the Katapult team build new,
and deepen existing, relationships with merchants and other
strategic partners with the goal of demonstrating the incremental
value of the innovative Katapult lease-to-own (LTO) solution and
expanding access to high quality solutions for non-prime
consumers.
“Derek has been a terrific partner to me over the past seven
years and I am excited to expand his role at this critical juncture
in our growth cycle,” said Orlando Zayas, CEO of Katapult. “Over
the past nearly two years we have grown gross originations by
introducing innovative new features like Katapult Pay,
strategically capitalizing on opportunities to deliver incremental
sales growth to our merchant partners and giving our customers a
product experience that they love and deserve. I believe Derek can
help us meaningfully accelerate our progress on these fronts and
create benefits for all our stakeholders. We have an incredibly
talented executive leadership team and together, I believe we can
drive Katapult to significant share gains in our $50 to $60 billion
addressable market.”
Derek transitions to this position from his previous role as
chief operating officer (COO), which he has held since 2018. As COO
of Katapult he helped the company expand its gross originations,
which have grown for the past seven consecutive quarters, and
revenue, which was more than $230 million over the last twelve
months, as of the second quarter 2024. Other notable highlights of
his tenure as COO include spearheading the company’s
direct-to-consumer efforts, cost-effectively scaling global
operations to support top-line growth and managing lifecycle
planning, product strategy and merchant integrations. As a result,
he was instrumental in the company’s launch of its groundbreaking
Katapult app and Katapult Pay feature in late 2022, which
represented 28% of the company’s gross originations in the second
quarter of 2024, as well as the increase of Katapult’s customer NPS
score and customer repeat purchase rate, which were 62 and 59.3%,
respectively, in the second quarter of 2024.
“I have spent the past 20 years leading cross-functional teams
spanning product, technology, operations and more and I’m excited
to take on this new challenge,” said Derek Medlin, President and
CGO of Katapult. “During my seven years at Katapult, I’ve had the
opportunity to help lead our merchant go-to-market efforts as well
as our direct-to-consumer strategy, including the launch of our
mobile app and Katapult Pay feature, and I believe these
experiences will allow me to help unlock even more transformative
growth opportunities. Based on our success to date, Katapult is
well positioned to build on its growth trajectory by expanding our
brand reach with retailers and consumers alike. We intend to do
this by enhancing our merchant offerings and continuing to elevate
our customer shopping experience. I could not be more excited to
work closely with the rest of our executive team to deliver on our
financial and operating objectives.”
Prior to Katapult, Derek spent nearly 15 years in roles that
spanned strategy, go-to-market, operations, finance and advisory
responsibilities at companies including J.P. Morgan Chase, Elavon
and Ernst & Young. He has a Bachelor of Arts in Spanish and a
Master of International Business from Georgia State University.
About KatapultKatapult 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 PayTM, 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.
ContactJennifer KullVP of Investor
Relationsir@katapult.com
Forward-Looking Statements
Certain statements included in this Press Release that are not
historical facts are forward-looking statements for purposes of the
safe harbor provisions under the United States Private Securities
Litigation Reform Act of 1995. In some cases, forward-looking
statements may be identified by words such as “anticipate,”
“assume,” “believe,” “continue,” “could,” “design,” “estimate,”
“expect,” “intend,” “may,” “plan,” “potentially,” “predict,”
“should,” “will,” “would,” or the negative of these terms or other
similar expressions. These forward-looking statements include, but
are not limited to, statements regarding growth opportunities,
expanding brand reach with retailers and consumers, enhancing
merchant offerings and elevating the customer shopping experience.
These statements are based on various assumptions, whether or not
identified in this Press Release, and on the current expectations
of Katapult’s management and are not predictions of actual
performance.
These forward-looking statements are provided for illustrative
purposes only and are not intended to serve as, a guarantee, an
assurance, a prediction or a definitive statement of fact or
probability. Actual events and circumstances are difficult or
impossible to predict and will differ from assumptions. Many actual
events and circumstances are beyond the control of Katapult. These
forward-looking statements are subject to a number of risks and
uncertainties that are discussed in greater detail in the section
entitled “Risk Factors” in Katapult’s periodic reports filed with
the Securities and Exchange Commission (“SEC”), and the Quarterly
Report on Form 10-Q for the quarter ended June 30, 2024 that
Katapult filed with the SEC. If any of these risks materialize or
our assumptions prove incorrect, actual results could differ
materially from the results implied by these forward-looking
statements. There may be additional risks that Katapult does not
presently know or that Katapult currently believes are immaterial
that could also cause actual results to differ from those contained
in the forward-looking statements. Undue reliance should not be
placed on the forward-looking statements in this Press Release. All
forward-looking statements contained herein are based on
information available to Katapult as of the date hereof, and
Katapult does not assume any obligation to update these statements
as a result of new information or future events, except as required
by law.
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