Katapult Names New Head of Product

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Katapult, a New York-based provider of e-commerce point-of-sale purchase options for nonprime U.S. consumers, announced that Devjit Basu has joined the company as head of product. Basu leads the product team to invent, define and build products that create new opportunities for retailers to capture a new customer segment, according to a news release.

Basu has more than 10 years of experience leading all aspects of product management, including identifying market opportunities, defining product visions, developing business cases, driving execution activities and measuring results.

“I am thrilled Basu has joined our organization as head of product,” said Orlando Zayas, Katapult chief executive officer. “I know that his experience and skill set will help to drive the overall product strategy and innovation that will set Katapult apart and provide the foundation for cutting-edge payment solutions.” Prior to joining Katapult, Basu served as the director of product at MoneyLion.

Katapult partners with e-commerce and omnichannel retailers to provide incremental growth via a new customer segment. Retail partners who have implemented Katapult’s solutions have seen an expanded customer base, increased transactions, and improved customer loyalty, according to the company.