Katapult Holdings
- π¦Became a unicornJun 2021
- πPeak valuation$1 Billion β21
- πBecame a Unitard2021
- πΈLast valuation~$665M
Total raised averaged per day over approximately 9.0 years from founding to bankruptcy or shutdown. This is not measured cash burn. Methodology
The rise & fall
6 moments Β· 2012β2026The key moments.
How it happened
Katapult provides lease-to-own point-of-sale financing for non-prime online shoppers; it grew out of the lender Cognical and has been led since 2017 by chief executive Orlando Zayas. It went public in June 2021 through a SPAC merger with FinServ Acquisition Corp at about a $1B enterprise value, and its common stock only briefly touched a $1B market capitalization before falling.
A pullback in subprime e-commerce spending, rising payment defaults and merchant renegotiations hit transaction volumes, and the shares collapsed, prompting a 1-for-25 reverse split in July 2023. It now trades well below the unicorn mark, with a market value in the low hundreds of millions.
Glassdoor reviews were mixed, centering on management gaps and a hard-driving sales culture.
Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor β. See our methodology.
Source: BusinessWire: SPAC merger with FinServ Acquisition Corp at a ~$1B enterprise value, trading as KPLT from Jun 10, 2021, with minimal redemptions at the vote. Digrin: post-merger common only briefly reached a ~$1B market capitalization around June 2021 before falling to ~$0.5B by August 2021. StockAnalysis: ~$416M market cap at Oct 12, 2026; a 1-for-25 reverse split took effect Jul 28, 2023. A borderline member, included because the common did briefly trade at a ~$1B market cap, not only an announced enterprise value. The business grew out of Cognical (founded ~2012); Orlando Zayas became CEO in 2017 and led it through the 2021 SPAC and until the 2026 Aaron's/CCF merger.
Who ran it
Current roles as self-reported on LinkedIn, retrieved 2026-10-13. See our methodology.
Disclosed investors (11)
Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.
* Lead in a funding round Β· Crunchbase β Β· 2026-10-13 Β· Methodology Β· Leaderboard
