Octane (Octane Lending, Inc.), a fintech company based in NYC that enhances the buying experience for significant recreational purchases, has raised $50 million in a Series E funding round.
Led by Valar Ventures with participation from Upper90, this round brings Octane’s total funding to $242 million.
The funds will be used to accelerate Octane’s expansion into new markets and bolster growth in existing ones.
CEO Jason Guss leads Octane in providing an end-to-end digital buying experience for lifestyle purchases, including powersports vehicles, RVs, and outdoor power equipment, making these purchases fast and accessible.
Founded in 2014, Octane has revolutionized the financing experience in the nearly $30 billion powersports market, covering motorcycles, ATVs, UTVs, and personal watercraft. The company’s digital tools, such as the dealer platform and soft-pull prequalification suite, enable over 4,000 dealer partners to offer a seamless customer experience. Through its in-house lender, Roadrunner Financial®, Inc., Octane has originated over $4 billion in loans and expanded into recreational vehicles, tractors, trailers, and electric vehicles.
Octane collaborates with over 30 original equipment manufacturer (OEM) partners and 4,000 dealer partners, employing a team of over 500 in remote and hybrid roles.
