In this episode, Orlando Zayas, CEO of Katapult, shares his entrepreneurial journey and the vision behind a platform dedicated to providing financial inclusion for non-prime consumers in the e-commerce space. Drawing on personal experiences and influenced by leaders like Jack Welch, Zayas emphasizes the importance of strong leadership, transparent product offerings, and a customer-centric culture. He recounts how Katapult eliminated late fees, introduced round-the-clock support, and focused on empowering underserved customers. With a diverse, talented team and a clear commitment to fairness and education, Katapult has grown rapidly, creating a positive impact on both customers and merchants. By leveraging technology, risk management expertise, and innovative product suites, Katapult continues to break down barriers, helping consumers build credit and improve their financial well-being.

Key Points:

- Katapult’s core mission: Financial inclusion for non-prime consumers in e-commerce.

- CEO Orlando Zayas’ leadership: Influenced by Jack Welch, focused on transparency, team-building, and fairness.

- Customer-centric approach: Eliminated late fees, implemented 24/7 chat support, and offered flexible payment options.

- Rapid growth and profitability: Achieved profitability within 18 months and maintained strong repeat business.

- Diverse team dynamic: Valued for challenging assumptions, driving innovation, and ensuring comprehensive decision-making.

- Leveraging technology: Using machine learning and AI to improve underwriting and enhance the customer experience.

- Commitment to education and philanthropy: Supporting underprivileged communities and encouraging financial literacy.

- Future trajectory: Expanding product suites, fostering inclusion, and improving financial outcomes for underserved populations.