Octane announced that it has promoted two executives to executive vice president, the first to hold the new title. Both appointments are effective Jan. 1.
Jon Vestal has been named executive vice president, head of powersports & outdoor power equipment (OPE). During his seven years with Octane, Vestal has been integral to Octane’s achievement of countless milestones, including surpassing $5B in aggregate originations and $1.6 billion in annual originations in 2024. Last year, Vestal’s leadership helped Octane to strengthen its relationships with Kawasaki and CFMOTO and expand its offering by partnering with RideNow to launch RideNow Finance, a private label partnership that combines digital tools, full-spectrum financing and branded lifecycle marketing. Additional notable accomplishments include building out the sales function, signing and launching partnerships with Polaris and BRP, and leading Octane’s entrance into the recreational vehicle (RV), tractor, trailer and mower markets. Vestal has held numerous leadership roles of increasing seniority since joining Octane in 2017. Prior to that tenure, he served as the national sales director for another national lender and in various executive roles within higher education. Vestal holds a B.S. in Finance from the University of Central Missouri.
Kartik Kothari has been named executive vice president & deputy chief financial officer. With nearly 20 years of financial services experience across fintech, consumer finance, and banking, Kothari has had a considerable impact on Octane since joining the company in 2021. Under Kothari’s leadership, Octane has strengthened its business by launching new markets and products, enhancing its financial strategy and deepening relationships with strategic partners, capital markets and investors. Before joining the company, Kothari led the public market readiness and execution process at a digital mortgage company. Earlier in his career, he spent 13 years at Barclays as a director in the Financial Institutions Group (FIG) in investment banking, where he advised companies on IPOs, mergers and acquisitions, joint ventures, partnerships and debt financings. Kothari holds a B.S. in Economics from Rutgers University and is a CFA charterholder.
“With their myriad accomplishments and wealth of expertise, Jon and Kartik have proven themselves to be outstanding leaders,” said Jason Guss, CEO and co-founder of Octane. “I’m grateful for their significant contributions to Octane and thrilled that they will help guide Octane’s next phase of growth in their new roles. Octane’s ability to attract and develop exceptional talent has always been a key driver in our success, and I am even more optimistic about the future of our company with such strong executives on our team.”
