FlexShopper Inc (FPAY)

History and Background

FlexShopper, Inc. (FPAY) is a financial technology company that provides a lease-to-own (LTO) option for consumers to acquire durable goods. Founded to address the needs of underbanked consumers, it has evolved to offer its LTO services through both its own e-commerce platform and through partnerships with other retailers.

Core Business Areas

• E-commerce Platform: FlexShopper's online platform allows consumers to lease-to-own a wide range of products, including electronics, furniture, and appliances.
• Retail Partnerships: FlexShopper partners with retailers to offer its LTO financing options to their customers, expanding its reach and customer base.

Leadership and Structure

FlexShopper's leadership team consists of executives with experience in finance, technology, and retail. The organizational structure includes departments for technology, marketing, finance, and customer service.

Key Offerings

• Electronics: Lease-to-own electronics such as laptops, smartphones, and TVs. Market share data is not publicly available at the product level. Competitors include Rent-A-Center and Aaron's.
• Furniture: Lease-to-own furniture sets and individual pieces. Market share data is not publicly available at the product level. Competitors include Rent-A-Center and Aaron's.
• Appliances: Lease-to-own appliances like refrigerators, washing machines, and dryers. Market share data is not publicly available at the product level. Competitors include Rent-A-Center and Aaron's.

Industry Overview

The lease-to-own industry caters to consumers who may not have access to traditional credit. The industry is growing due to the increasing number of underbanked individuals and the demand for flexible payment options.

Positioning

FlexShopper is positioned as a technology-driven LTO provider, focusing on online channels and retail partnerships. Competitive advantages may include its proprietary technology platform and partnerships.

Total Addressable Market (TAM)

The TAM for the LTO market is estimated to be in the billions of dollars annually. FlexShopper is positioned to capture a portion of this market through its online platform and retail partnerships.

Key Competitors

• RAC
• AAN
• GO

Competitive Landscape

FlexShopper competes with larger, established LTO providers. Its competitive advantage lies in its technology platform and strategic partnerships. Disadvantages include smaller size and limited resources.

Historical Growth: Historical growth trends can be determined by analyzing FlexShopper's past revenue and customer acquisition data. This data is found within SEC filings.

Future Projections: Future growth projections depend on analyst estimates and company guidance. These projections are subject to change.

Recent Initiatives: Recent initiatives are found in their press releases and SEC filings and would involve strategic partnerships, product expansion and technology improvements.

FlexShopper is a smaller player in the lease-to-own industry with a focus on technology and partnerships. Its strength lies in its online platform, but it faces challenges related to scale and competition. Future success depends on managing default rates and expanding its customer base. Reliance on retail partnerships also introduces business risk.

Data Sources:

• Company Website
• SEC Filings
• Industry Reports
• Analyst Estimates

Disclaimers:

The data provided is for informational purposes only and should not be considered investment advice. Market share data is based on available estimates and may not be precise. Financial data should be verified through official SEC filings.