New York-based lendtech Octane has raised $100 million in equity capital in a Series F funding round.
Existing investor Valar Ventures led the round, with additional participation from Upper90, Huntington Bank, Camping World and Good Sam, Holler-Classic, and more.
Octane says its latest raise “includes new equity capital to be used for growth initiatives as well as amounts to be used for secondary share transfers”.
Established in 2014 by CEO Jason Guss and SVP of product Andre Gregori, Octane says it has “originated over $7 billion in loans” through its in-house lender Roadrunner Financial.
The company provides access to financing for recreational purchases specialising in the powersports market, partnering with dealers of ATVs, UTVs, personal watercraft, and motorcycles.
Billy Libby, managing partner at Upper90, says Octane is now “scaling its proprietary underwriting engine and end-to-end technology platform as it expands into new markets”.
The investment follows Octane’s $50 million Series E round in August 2024. With its latest injection of capital, the company has now raised $342 million in total equity funding since its inception.
Source: https://www.fintechfutures.com/
