NEW YORK, May 6, 2025 — Octane® (Octane Lending, Inc.®), the fintech revolutionizing the buying experience for major recreational purchases, today announced the completion of an agreement to sell a portfolio of $200 million of fixed-rate installment powersports loans to Yieldstreet, a leading private market investing platform. Yieldstreet received financing from J.P. Morgan to facilitate the transaction. 

The portfolio of whole loans was newly originated by Octane’s in-house lender, Roadrunner Financial®, Inc., and will be serviced by Octane’s in-house loan servicer, Roadrunner Account Services, LLC. 

This is Octane’s third whole loan sale to Yieldstreet. In late 2023 and early 2024, Octane sold a total of $280 million of fixed-rate powersports loans to Yieldstreet via two transactions, the first of which was Octane’s first whole loan sale and Yieldstreet’s inaugural private credit facility. Octane has sold or entered into forward flow commitments of over $2.2 billion to-date.

“Yieldstreet has been a strong partner for Octane since the fourth quarter of 2023 and we are both pleased and grateful for their continued interest in, and commitment to, our business,” said Steven Fernald, President and Chief Financial Officer at Octane. “We look forward to deepening our relationship with them as we continue to drive growth for dealers and OEMs with our innovative solutions and seamless, digital experience.”

“This transaction reinforces the strength of our longstanding relationship with Octane and shared commitment to excellence. Their robust underwriting and origination capabilities have made this a productive partnership totaling nearly $500 million so far. We look forward to future opportunities with Octane’s exceptional team as Yieldstreet continues to provide individual investors with broader access to attractive private markets investments previously limited to institutional capital,” said Fahd Basir, Managing Director and Head of Yieldstreet’s Credit Investments.

“This transaction fuels our growth strategy by increasing our capacity to fund high-quality originations,” said Nick Makarov, Senior Vice President, Capital Markets at Octane. “We are excited about our partnership with Yieldstreet and the potential to expand investor access to our offerings through their leading private market platform.”

This announcement follows a period of significant momentum for Octane. The company recently surpassed $6 billion in aggregate originations and grew originations by 36% year-over-year in 2024.

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NEW YORK, April 15, 2025 — Octane® (Octane Lending, Inc.®), the fintech revolutionizing the buying experience for major recreational purchases, announced today that it has executed an up to $700 million forward-flow facility. New York Life, the largest¹  mutual life insurance company in the United States, was the Loan Arranger and lead investor along with MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc., and Equitable, a leading financial services organization and principal franchise of Equitable Holdings, Inc. (NYSE: EQH). Truist Securities served as Structuring Agent on behalf of the insurance syndicate. AB CarVal, an established global alternative investment manager and part of AllianceBernstein’s Private Alternatives business, served as an investment advisor on this transaction for Equitable. This transaction marks Octane’s largest forward-flow agreement to date, and its second such partnership with funds managed by life insurance providers.

Under the terms of the deal, New York Life has agreed to fund up to $350 million, MIM has agreed to fund up to $200 million, and Equitable has agreed to fund up to $150 million of fixed-rate installment powersports loans originated by Octane’s in-house lender, Roadrunner Financial®, Inc. Octane’s in-house loan servicer, Roadrunner Account Services, LLC, will continue to service the loans. 

The proceeds of this deal will support Octane’s continued momentum; the company grew originations in 2024 by 36% year over year. Through this transaction, the Company continues to diversify and grow its existing base of high quality capital providers. 

“We’re excited to leverage our strong, consistent, and stable credit performance by offering alternative asset classes to attract three distinguished insurance partners,” said Steve Fernald, President and CFO of Octane. “We look forward to strengthening our relationships with New York Life, MIM, and Equitable and continuing to serve our OEM and dealer partners with our innovative solutions and fast, seamless digital experience.”

“We are delighted to partner with Octane in this landmark forward-flow facility, which provides a valuable investment opportunity for New York Life and will help support Octane’s success and expansion,” said Brendan Feeney, Managing Director and Head of Consumer Asset Based Finance with New York Life. “This deal reinforces our commitment to our policy owners by investing in high-quality assets for the stability and growth of our portfolio. We look forward to deepening our relationship with Octane and our partners in this investment, MIM and Equitable.”

“We are committed to investing in innovative financial solutions that align with the strategic objectives of our General Account and this transaction further supports the development of AllianceBernstein’s Private Alternative capabilities, including AB CarVal,” said Glen Gardner, Chief Investment Officer of Equitable.

Octane has sold or entered into forward flow commitments of over $2 billion since its first whole-loan sale in late 2023, including a $500 million forward-flow facility with funds managed by AB CarVal in 2024. 

¹Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/4/2024. For methodology, please see https://fortune.com/franchise-list-page/fortune-500-methodology-2023/.

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NEW YORK, March 4, 2025 — Octane® (Octane Lending, Inc.®), the fintech revolutionizing the buying experience for major recreational purchases, announced today that it has sold a portfolio of $150 million of fixed-rate installment powersports loans to Nuveen, the investment manager of TIAA, one of the most highly rated and financially stable insurance companies in the United States. The portfolio of whole loans was newly originated by Octane’s in-house lender, Roadrunner Financial®, Inc., and will be serviced by Octane’s in-house loan servicer, Roadrunner Account Services, LLC. Guggenheim Securities, LLC acted as sole structuring advisor and arranger on behalf of Octane. 

With this transaction, Octane continues to diversify its large existing base of capital providers. This is the company’s fourth whole loan sale to-date and its first with an insurer. Octane has sold or entered into forward flow commitments of over $1.2 billion since its first whole loan sale in late 2023. 

“Our strong, consistent credit performance and our ability to offer alternative asset classes has enabled us to attract a wide range of preeminent investors,” said Steven Fernald, President and Chief Financial Officer at Octane. “Nuveen was an outstanding partner on this transaction and we look forward to strengthening our relationship with them in the future.”

“We’re delighted to partner with Octane on this whole loan sale, supporting Octane’s ability to continue to diversify their existing base of capital providers,” said Ken Price, Senior Director, Private Placements at Nuveen. “This compelling opportunity aligns with how we look to invest in truly differentiated transactions, while applying our deep history of providing flexible capital solutions.”

Octane will leverage the proceeds of this sale to continue to build on its significant momentum. In 2024, the company originated over $1.6 billion, up 36% year-over-year, and surpassed $5 billion in originations to date. 

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NEW YORK, January 30, 2025 — Octane® (Octane Lending, Inc.®), the fintech company revolutionizing the financing experience, announced today that it has promoted two executives to Executive Vice President, the first to hold the new title. Both appointments are effective January 1, 2025.

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.” 

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NEW YORK, January 28, 2025 — Octane® (Octane Lending, Inc.®), the fintech revolutionizing the buying experience for major recreational purchases, announced that it has executed a forward-flow partnership with Georgia’s Own Credit Union (Georgia’s Own), which was facilitated by LoanStreet Inc.

Under the agreement’s terms, Georgia’s Own has agreed to purchase high-quality, fixed-rate installment powersports loans originated by Octane’s in-house lender, Roadrunner Financial®, Inc. that are aligned with Georgia’s Own’s risk criteria. Borrowers will become members of Georgia’s Own at the time of contracting in a secure, seamless, digital process powered by Octane. Roadrunner Account Services, LLC, Octane’s in-house loan servicer, will service the loans. 

“We’re excited to partner with Georgia’s Own to support its members with an incredibly efficient, timely, and simple financing experience that connects powersports enthusiasts with their passions,” said Steven Fernald, President and Chief Financial Officer at Octane. “As we continue to grow our business, we’re constantly enhancing how we use technology to support our partners and customers while providing full-spectrum financing and delivering strong credit performance.”

This transaction continues to diversify Octane’s large existing base of capital providers and further fuels the company’s significant momentum and growth; Octane surpassed $5B in aggregate originations in September. 

“Our partnership with Octane has been a seamless experience,” said Christin Hewitt, Chief Financial Officer at Georgia’s Own. “While we currently serve over 240,000 members throughout the State of Georgia, this unique partnership allows us to add high-quality assets to our balance sheet while also welcoming new members to the Credit Union, giving those members access to our full suite of personal and business financial services.”

“Partnering progressive credit unions like Georgia’s Own with best-in-class fintech lenders like Octane is critical to the continued success of both credit unions and fintechs,” said Ian Lampl, CEO of LoanStreet, which partners with over 1,300 credit unions to facilitate balance sheet management solutions and increase capital deployment efficiency.

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NEW YORK, January 22, 2025 — Octane® (Octane Lending, Inc.®), the fintech company revolutionizing the financing experience, announced today that it has named Sean Fernandez-Ledon its first Chief Legal Officer, effective January 1, 2025. 

Since joining the company as General Counsel and Chief Compliance Officer and its first legal hire in 2017, Fernandez-Ledon built the Octane Legal and Compliance Department from the ground up. He played a significant leadership role in Octane’s successful asset-backed securitization (ABS) program, which has now issued more than $4 billion in notes, as well as more than $1 billion of whole-loan sales and forward-flow commitments the company has announced or completed since December 2023. Fernandez-Ledon has been instrumental in Octane’s corporate governance practice and equity funding raises, including the company’s Series E funding round, which closed last year. He has also overseen Octane’s compliance efforts and the regulatory work that has enabled the company to expand into the marine, recreational vehicle (RV), tractor, and trailer markets. 

“Sean’s wealth of experience and insight has been integral to Octane’s growth from a nascent player to a market leader,” said Jason Guss, CEO and Co-Founder of Octane. “I’m grateful to Sean for his counsel, support, and guidance over the past eight years, and count on his leadership to help us achieve many more milestones together in the years to come.”

“It’s been a privilege to work alongside Jason and the rest of the Octane team to deliver a fast, seamless buying experience for our partners and customers,” said Fernandez-Ledon. “I look forward to driving continued success for Octane with the support of an exceptional legal team.” 

An alumnus of Cravath, Swain, & Moore, LLP, Fernandez-Ledon holds a J.D. from Harvard Law School and a B.A. in Political Science from Columbia University. In 2024, he was named a Top 50 Corporate Counsel by OnCon Icon. 

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