Octane Enters the Marine Market with its Seamless, Digital Buying Experience

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Oct 09, 2024, 09:17 ET

Brings Fast, Easy, Full-Spectrum Financing to Marine Dealers and Consumers

NEW YORK, Oct. 9, 2024 /PRNewswire/ -- Octane^® (Octane Lending, Inc.^®), the fintech revolutionizing the buying experience for major recreational purchases, announced today that it has entered the marine market.

Octane Lending, Inc.® announced its entrance into the marine market. Dealerships selling pontoons and motorboats can now benefit from the company's offerings, including a fast, easy financing experience, innovative technology, and full-spectrum financing through its in-house lender.

Effective immediately, marine, recreational, and powersports dealers selling pontoons and motorboats can offer competitive rates and flexible terms to a wide range of prime and non-prime customers through Octane's in-house lender, Roadrunner Financial, Inc.^®. Octane's innovative digital experience allows dealers to move quickly and seamlessly through the financing process, from initial customer inquiry through deal close, saving time for dealers and consumers alike.

"We're thrilled to bring our innovative, end-to-end financing experience to the marine market," said Mark Davidson, Chief Growth Officer. "We look forward to supporting dealers and OEMs in this growing market while offering full-spectrum financing that fuels our customers' lifestyles."

This expansion follows several exciting milestones for the company; Octane recently announced its Series E funding round, closed a $500 Million Forward-Flow Deal with AB CarVal, and surpassed $5 billion in aggregate originations.

Dealerships interested in Octane's seamless, digital financing experience can learn more at https://octane.co/o/dealer/signup/.

About Octane:
Octane^® is revolutionizing recreational purchases by delivering a seamless, end-to-end digital buying experience. We connect people with their passions by combining cutting-edge technology and innovative risk strategies to make lifestyle purchases–like powersports vehicles, RVs, boats and personal watercraft, and outdoor power equipment–fast, easy, and accessible.

Octane adds value throughout the customer journey: inspiring enthusiasts with the Octane Media™ editorial brands, including Cycle World^® and UTV Driver^®, instantly prequalifying consumers for financing online, routing customers to dealerships for an easy closing, and supporting customers throughout their loan with superior loan servicing.

Founded in 2014, we have more than 30 OEM and 4,000 dealer partners, and a team of over 500 in remote and hybrid roles. Visit www.octane.co.

Octane^® and Roadrunner Financial^® are registered service marks of Octane Lending, Inc.

Media Relations: Shannon O'Hara
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Investor Relations:
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SOURCE Octane