Octane has originated over $1 billion in loans in 2022 through its in-house lender Roadrunner Financial, Inc.
This milestone follows a period of sustained business growth for the company. Octane increased originations during the first three quarters of the year by 75% year over year. During the same period, the company grew its number of dealer partners by 26% and saw originations per dealer increase by 39%.
Octane surpassed $1 billion in total loans in May 2021, five years after issuing its first loan.
Octane has seen considerable investor demand for its loans, a testament to the company’s underwriting and consistent business performance, the company said.
Today’s news comes on the heels of Octane’s expansion into additional industries. Last month, the company announced its entrance into the RV market, following its venture into tractors and trailers earlier this year.
Octane has also enhanced its seamless, digital-to-retail experience and growing number of digital tools, including Octane Prequal, its award-winning, e-commerce tool. The tool presents customers with real credit offers while driving customers to dealerships.
“I’m incredibly proud of our team for their hard work in bringing speed and ease to the buying experience and helping us connect people with their passions,” said Mark Davidson, Octane co-founder and chief revenue officer. “I also want to thank our over 30 OEM and 4,000 dealer partners for their support and trust as we transform our industry and make buying better.”
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