SimpleTire Offers Katapult Lease-Purchase Services to Increase Consumer Buying Power
September 08 2022 - 8:00AM
Katapult, a provider of lease-purchase solutions for omnichannel
retailers and their customers, has added SimpleTire, a leading
online tire retailer, to its network of merchant partners. The
partnership gives all SimpleTire customers – and particularly those
with non-prime credit ratings who may not have access to
traditional financing options – a more flexible and transparent way
to obtain replacement tires, either for routine vehicle maintenance
or in an emergency.
“SimpleTire provides easy, affordable access to one of life’s
necessities for millions of people,” said Kenny Pratt, Co-Founder
& CTO at SimpleTire. “The need for new tires sometimes occurs
unexpectedly. By partnering with Katapult, we can now offer our
customers another flexible way to purchase from our huge catalog of
quality tires. It’s another great way we keep our customers
going.”
Katapult partners with e-commerce and omnichannel retailers to
provide a fair, transparent, and dignified way for underserved
consumers to pay for everyday necessities. Merchants partnering
with Katapult can reach and convert new shoppers, increase
transaction volume, and gain customer loyalty. Funding is quick, so
merchants can focus their resources on the customer experience,
while consumers get a seamless checkout experience for the products
they need.
“When it comes to replacing or buying new tires, when there is a
need, it’s typically immediate,” said Orlando Zayas, CEO of
Katapult. “Unfortunately, this isn’t an expense that most consumers
plan for, which is why I’m particularly excited for this
partnership with SimpleTire. Lease-to-own offers consumers the
additional flexibility they may need to purchase the tires that
will get them to work or wherever they need to go, while still
keeping their monthly expenses in check. In the face of current
macroeconomic challenges such as high gas prices and rising
inflation, this option enables consumers to stretch their dollars
even further while still purchasing the items they need.” Other
merchants that offer Katapult lease-purchase payment options
include Wayfair, Lenovo and Purple Mattress.
About KatapultKatapult is transforming the
world of lease-to-own with transparent lease-purchase plans that
flex to meet the needs of millions of Americans who are overlooked
by traditional credit. With proprietary artificial intelligence
(AI) and machine learning (ML) risk-modeling technology, Katapult
predicts consumer behavior more accurately than traditional credit
scores—providing new paths to ownership for people and new
customers for omnichannel retailers. Katapult ensures exceptional
experiences with seamless integration, both directly with merchants
and through ecommerce platforms, and award-winning customer
service. Visit www.katapult.com to learn more.
About SimpleTireBased in Philadelphia,
SimpleTire is an online tire retailer committed to relentlessly
reinventing tire replacement to make it way simple, way better. The
company's business model links independent tire distributors and
25,000 installation partners across the country into one seamless
e-commerce network providing customers access to an unparalleled
inventory of tires from hundreds of brands and an all-in-one tire
replacement experience. SimpleTire sells tires in all categories,
including Passenger, Light truck, Commercial, Agriculture, OTR,
Industrial, ATV, Antique and various specialties. In 2022 and 2020,
SimpleTire was named the Best Place to Work in the tire industry by
Tire Business Magazine and was on Inc. Magazine's list of fastest
growing companies in 2019. For more information, visit
www.simpletire.com.
Investor
Inquiries:Katapult Vice President of Investor
RelationsBill Wright917-750-0346bill.wright@katapult.com
Press
Inquiries:Allison +
Partners908-930-0835katapult@allisonpr.com
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