Koalafi appoints Eric Kobe as CEO

RICHMOND, Va., Sept. 23, 2024 /PRNewswire/ -- Koalafi, a leading consumer finance company, today announced the appointment of its President, Eric Kobe, as the company's new Chief Executive Officer.

In a planned management transition, Boomer Muth, co-founder and current CEO, will remain actively involved in the company as Executive Vice Chair of Koalafi's Board of Directors.

Kobe brings over two decades of experience in executive leadership and strategy roles to Koalafi. Prior to Koalafi, Kobe most recently served as CEO of Groundspeed and held various management positions at Affirm from 2016 through 2020, helping scale the company. Under Muth's leadership, Koalafi delivered steady growth and healthy financial returns, priming the company for the next growth phase under Kobe's direction.

"We are thrilled to announce Eric Kobe as Koalafi's CEO," said Boomer Muth. "Since joining Koalafi earlier this year, Eric has demonstrated strong leadership alignment with our core values and a powerful vision of how Koalafi can continue to deliver industry-leading financing solutions that help merchants and customers succeed. With his proven track record of scaling companies, we are confident he will lead the team to drive long-term growth and impact."

Eric Kobe commented, "Since joining Koalafi as President, I've been proud to work alongside such an exceptional team driving our mission forward. Koalafi is uniquely positioned to empower underserved consumers with the financial tools they need while transforming the non-prime financing landscape. I'm incredibly excited to step into the CEO role to build upon our strong foundation to lead Koalafi into its next phase of growth."

Up to 40% of US consumers¹ may not be eligible for traditional financing to make high-ticket purchases². Koalafi's transparent and flexible non-prime financing plans enable these customers to make important purchases while helping merchants serve a wider range of customers. Over 25,000 merchants have partnered with Koalafi to help their businesses reach new customers, boost conversions, and increase average order value. Under Kobe's leadership, Koalafi plans to expand financing access to consumers at more leading national retailers and enhance Koalafi's consumer financing offerings.

About Koalafi
Koalafi (koalafi.com) offers convenient and transparent financing options that enable non-prime consumers to make life-changing purchases. With Koalafi, in-store and eCommerce merchants can help more customers get the things they need, while increasing sales and strengthening customer loyalty. Koalafi believes that financing should be more than a payment plan, so they offer customers clear terms, top-rated support, and credit bureau reporting.

1. Bureau of Consumer Financial Protection. The Consumer Credit Card Market. 2021.
2. Based on an estimated minimum 620 score requirement for retail store credit cards.

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SOURCE Koalafi