Octane reported the company grew significantly in the RV and powersports markets in 2024.
Originations through the company’s in-house lender, Roadrunner Financial, grew 36% from 2023 levels to over $1.6 billion. The company surpassed $4 billion in historical originations in February and topped $5 billion in September.
“The company continued to see strong growth in the RV market,” Octane said, “doubling its RV originations for the second year in a row.”
Octane raised $50 million in its Series E funding round in late 2024. The funds bring Octane’s total equity funding raised since inception to $242 million.
The company celebrated its 10th year in operation in 2024 and opened a new headquarters in Manhattan. Octane appointed its first president, Steven Fernald, during the year and appointed a new chief risk officer, Mark Molnar.
Co-founder and CEO Jason Guss said, “The past year was the most successful in Octane’s 10-year history, made possible thanks to the creativity and effort of our team and the ongoing support of our esteemed dealer, OEM and investor partners. We intend to build on this momentum in 2025, as we reaffirm our commitment to making buying better through a fast, seamless financing experience.”
