FinTech Octane has successfully completed a $380m securitisation named “OCTL 2023-3.”
This securitisation is backed by fixed-rate instalment loans for power-sports and recreational vehicles originated through its in-house lender, Roadrunner Financial, Inc.
Octane is at the forefront of reshaping how consumers make significant recreational purchases, providing innovative financing solutions for these acquisitions.
The newly secured $380m will further fuel Octane’s growth and expansion efforts. It will enable Octane to continue connecting people with their passions and enhance the buying experience.
This milestone marks Octane’s ninth securitization since its program launch in December 2019. To date, the company has completed over $3bn in asset-backed securitisation, underlining its strong presence in the market.
Steven Fernald, Chief Financial Officer at Octane, expressed gratitude for the support of institutional investor partners. He emphasised that this successful transaction will empower Octane’s ongoing growth and its mission to improve the purchasing experience for consumers.
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