TopMark Funding Opens 2022 with Continued Momentum Highlighting Another Record-Breaking Quarterly Performance
TopMark Funding Leadership Continues to Build Team and Focuses on Aggressive Growth Targets In 2022
ROSEVILLE, Calif., April 28, 2022 /PRNewswire/ -- TopMark Funding, a premier funding destination for commercial vehicle dealerships and small to midsized fleets, produced another record-breaking quarter and is leading the year with a 29.2% gain against its first quarter revenue goals. The company, which closed 2021 with an increased volume (Total Amount Financed) of 2.3 times year over year performance, is confident that the organization is likely to meet or exceed its performance benchmarks in 2022. As of now, TopMark Funding has set an aggressive annual origination growth target of 57% and is presently out pacing that with Q1 2022 coming in 27% above its annualized 2022 target and is at 268% of Q1 2021's actual performance.
In the first three months of the year, TopMark funded a company record of $34.7 million in volume, marking a 242% year-over-year increase from Q1 2021. March fundings of $15.4 million put the company on an annualized run rate of $185 million. The company reported record earnings which exceeded forecast by a factor of 2.5. TopMark continues to focus its primary growth within the dealership marketplace by designing proprietary technology uniquely created for the category-specific funding needs.
"Each quarter that we continue to see record-breaking growth affirms that our senior sales talent, operational structure and leadership, and our investment in technology are working," said Managing Partner and Co-Founder Evan Lang. "The marketplace continues to see unprecedented challenges but the commitment of the TopMark team is laying the relationship foundation with dealerships across the country and is a critical piece of the company's continuing growth."
TopMark Funding expects growth for the remainder of 2022 despite any economic challenges in the trucking marketplace. The organization's approach to curating a top-notch operational process, and a highly skilled sales team with the ability to work remote will continue to be a lynchpin for the company. To meet growing demand, the company expects to add more than 60% to its senior sales team by the end of the year with industry talent who are career oriented and eager to join a company whose focus is on creating opportunities for success.
About TopMark Funding
TopMark Funding, LLC, is a premier funding partner for dealerships, specializes in financing commercial vehicles, and can effectively and efficiently handle dealer transactions. Founded in 2015, the company has a proven track record of helping transportation companies expand by offering strategic funding solutions for growing small and mid-sized fleets. With a laser focus on speed, accuracy, and unmatched customer service, TopMark Funding and its dedicated team assist dealers in financing more than $15 million of commercial vehicles each month.
MEDIA CONTACT:
Jamie Haley
[email protected]
818.635.6809
SOURCE TopMark Funding
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