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๐Ÿšจ 192% Growth SPAC ๐Ÿšจ

๐Ÿ’ธ Katapult provides leasing solution for e-commerce websites

๐Ÿ”ฅ It enables non-prime customers to lease durable goods online

๐ŸšฉALL founders left and $CURO owns 50% of Katapult

โ‰๏ธ What is hidden behind the $FSRV SPAC โ‰๏ธ

Here is an EASY thread ๐Ÿ‘‡

Katapult was founded in 2012 and was initially called Zibby and operated by Cognical

๐Ÿ’ธ By 2015, it had raised $ 10m in equity and debt from VC funds such as Tribeca Venture Partners and Blumberg

Cognical was founded by ๐Ÿ‘‡

Brandon Wright - a Cornell MBA who later founded @payfully

Ashutosh Saxena - a PhD in AI from Stanford (awards:

Chinedu Eleanya - a serial entrepreneur who later founded @GetMulberry which sells extended warranty to shoppers

Zibby was a โ€œLease-To-Ownโ€ service designed for durable goods & products (furniture, appliances, electronics)

1๏ธโƒฃ When customers purchase an item online, Zibby retains the rights to this item

2๏ธโƒฃ Zibby rents the item to the customer

3๏ธโƒฃ The customer can decide to purchase the full ownership rights of the item at any time

This model proved successful and Zibby was incubated by Cornell