Lending company Octane, which has long been focused on the powersports market but entered the RV and marine markets in 2022, reported that it surpassed $1.2 billion in annual originations in 2022, saw a 74% increase in originations year-over-year and grew originations per dealer partner by 37%.
In all, the company entered into five new markets in 2022: RVs, electric vehicles, tractors, trailers and go-karts.
Octane launched nine partnerships with OEMs, including industry leaders such as Polaris.
The company also grew dealer digital integrations tenfold, with more than 450 dealers leveraging the award-winning Octane Prequal on their websites at year end.
Octane has relationships with more than 4,000 dealer partners.
