{"id":6092,"date":"2023-08-23T09:15:00","date_gmt":"2023-08-23T09:15:00","guid":{"rendered":"https:\/\/octane.co\/o\/?p=6092"},"modified":"2024-03-25T15:28:40","modified_gmt":"2024-03-25T15:28:40","slug":"h1-2023-octane-surpasses-3b-in-aggregate-originations-on-its-journey-to-make-buying-better","status":"publish","type":"post","link":"https:\/\/octane.co\/o\/h1-2023-octane-surpasses-3b-in-aggregate-originations-on-its-journey-to-make-buying-better\/","title":{"rendered":"Octane Surpasses $3B in Aggregate Originations on Its Journey to Make Buying Better"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"6092\" class=\"elementor elementor-6092\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b3088dc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b3088dc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-eb25715\" data-id=\"eb25715\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-cd9ce52 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"cd9ce52\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-3f13223\" data-id=\"3f13223\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-771b51d elementor-widget elementor-widget-image\" data-id=\"771b51d\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 05-08-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/octane.co\/o\/wp-content\/uploads\/2023\/08\/230531_SOC_PressRelease-MidYear_B-1024x1024.png\" class=\"attachment-large size-large wp-image-6094\" alt=\"\" srcset=\"http:\/\/octane.co\/o\/wp-content\/uploads\/2023\/08\/230531_SOC_PressRelease-MidYear_B-1024x1024.png 1024w, http:\/\/octane.co\/o\/wp-content\/uploads\/2023\/08\/230531_SOC_PressRelease-MidYear_B-300x300.png 300w, http:\/\/octane.co\/o\/wp-content\/uploads\/2023\/08\/230531_SOC_PressRelease-MidYear_B-150x150.png 150w, http:\/\/octane.co\/o\/wp-content\/uploads\/2023\/08\/230531_SOC_PressRelease-MidYear_B-768x768.png 768w, http:\/\/octane.co\/o\/wp-content\/uploads\/2023\/08\/230531_SOC_PressRelease-MidYear_B-700x700.png 700w, http:\/\/octane.co\/o\/wp-content\/uploads\/2023\/08\/230531_SOC_PressRelease-MidYear_B-1160x1160.png 1160w, http:\/\/octane.co\/o\/wp-content\/uploads\/2023\/08\/230531_SOC_PressRelease-MidYear_B-50x50.png 50w, http:\/\/octane.co\/o\/wp-content\/uploads\/2023\/08\/230531_SOC_PressRelease-MidYear_B-650x650.png 650w, http:\/\/octane.co\/o\/wp-content\/uploads\/2023\/08\/230531_SOC_PressRelease-MidYear_B-1000x1000.png 1000w, http:\/\/octane.co\/o\/wp-content\/uploads\/2023\/08\/230531_SOC_PressRelease-MidYear_B-75x75.png 75w, http:\/\/octane.co\/o\/wp-content\/uploads\/2023\/08\/230531_SOC_PressRelease-MidYear_B-750x750.png 750w, http:\/\/octane.co\/o\/wp-content\/uploads\/2023\/08\/230531_SOC_PressRelease-MidYear_B-1140x1140.png 1140w, http:\/\/octane.co\/o\/wp-content\/uploads\/2023\/08\/230531_SOC_PressRelease-MidYear_B.png 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-a289dea\" data-id=\"a289dea\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-86bfa4a elementor-widget elementor-widget-text-editor\" data-id=\"86bfa4a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 05-08-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><span style=\"font-weight: 400;\">Launches 3 New Partnerships, Grows RV Originations by 85%, and Increases Adoption of Octane Prequal by 140% in H1 2023<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c207cda elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c207cda\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1334ef8\" data-id=\"1334ef8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f80eea5 elementor-widget elementor-widget-text-editor\" data-id=\"f80eea5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul><li><span style=\"font-weight: 400;\">Octane surpassed $3B in aggregate originations through its in-house lender, <\/span><a href=\"https:\/\/www.roadrunnerfinancial.com\/\"><span style=\"font-weight: 400;\">Roadrunner Financial<\/span><\/a><span style=\"font-weight: 400;\">\u00ae, Inc, grew RV originations by 85% compared to H2 2022, and grew tractor and trailer originations by 112% year-over-year<\/span><\/li><li><span style=\"font-weight: 400;\">Continued to strengthen relationships with OEMs by launching three new partnerships\u00a0<\/span><\/li><li><span style=\"font-weight: 400;\">Grew the number of dealers using <\/span><a href=\"https:\/\/octane.co\/o\/prequal\/\"><span style=\"font-weight: 400;\">Octane Prequal<\/span><\/a><span style=\"font-weight: 400;\">\u2122, the award-winning digital soft pull tool, by 140% year-over-year<\/span><\/li><li><span style=\"font-weight: 400;\">Launched innovative new offerings, including the digital soft pull tool, <\/span><a href=\"https:\/\/octane.co\/o\/prequal-flex-soft-pull-prequalification-tool\/\"><span style=\"font-weight: 400;\">Prequal Flex<\/span><\/a><span style=\"font-weight: 400;\">\u2122; the B2B loyalty program, <\/span><a href=\"https:\/\/octane.co\/o\/preferred-program\/\"><span style=\"font-weight: 400;\">Octane Preferred<\/span><\/a><span style=\"font-weight: 400;\">\u2122; and advertising on the renowned <\/span><a href=\"https:\/\/octanemedia.co\/\"><span style=\"font-weight: 400;\">Octane Media<\/span><\/a><span style=\"font-weight: 400;\">\u2122 properties, which include <\/span><a href=\"https:\/\/www.cycleworld.com\/\"><i><span style=\"font-weight: 400;\">Cycle World<\/span><\/i><\/a><span style=\"font-weight: 400;\">\u00ae, <\/span><a href=\"https:\/\/www.motorcyclistonline.com\"><i><span style=\"font-weight: 400;\">Motorcyclist<\/span><\/i><\/a><span style=\"font-weight: 400;\">\u00ae, and <\/span><a href=\"https:\/\/www.utvdriver.com\/\"><i><span style=\"font-weight: 400;\">UTV Driver<\/span><\/i><\/a><span style=\"font-weight: 400;\">\u00ae<\/span><\/li><li>Closed two $400M asset-backed securitizations, <a href=\"https:\/\/octane.co\/o\/407-million-asset-backed-securitization-upsize-from-initial-305-million-target-issuance\/\">OCTL 2023-1<\/a> and <a href=\"https:\/\/octane.co\/o\/400-million-asset-backed-securitization-upsize-from-initial-300-million-target-issuance\/\">OCTL 2023-2<\/a>, for which the senior class of notes were rated AAA by S&amp;P* and KBRA**<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a7f5df7 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"a7f5df7\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 05-08-2024 *\/\n.elementor-widget-divider{--divider-border-style:none;--divider-border-width:1px;--divider-color:#0c0d0e;--divider-icon-size:20px;--divider-element-spacing:10px;--divider-pattern-height:24px;--divider-pattern-size:20px;--divider-pattern-url:none;--divider-pattern-repeat:repeat-x}.elementor-widget-divider .elementor-divider{display:flex}.elementor-widget-divider .elementor-divider__text{font-size:15px;line-height:1;max-width:95%}.elementor-widget-divider .elementor-divider__element{margin:0 var(--divider-element-spacing);flex-shrink:0}.elementor-widget-divider .elementor-icon{font-size:var(--divider-icon-size)}.elementor-widget-divider .elementor-divider-separator{display:flex;margin:0;direction:ltr}.elementor-widget-divider--view-line_icon .elementor-divider-separator,.elementor-widget-divider--view-line_text .elementor-divider-separator{align-items:center}.elementor-widget-divider--view-line_icon .elementor-divider-separator:after,.elementor-widget-divider--view-line_icon 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.elementor-divider__element{margin-right:0}.elementor-widget-divider--element-align-start .elementor-divider .elementor-divider-separator>.elementor-divider__svg:first-of-type{flex-grow:0;flex-shrink:100}.elementor-widget-divider--element-align-start .elementor-divider-separator:before{content:none}.elementor-widget-divider--element-align-start .elementor-divider__element{margin-inline-start:0}.elementor-widget-divider--element-align-end .elementor-divider .elementor-divider-separator>.elementor-divider__svg:last-of-type{flex-grow:0;flex-shrink:100}.elementor-widget-divider--element-align-end .elementor-divider-separator:after{content:none}.elementor-widget-divider--element-align-end .elementor-divider__element{margin-inline-end:0}.elementor-widget-divider:not(.elementor-widget-divider--view-line_text):not(.elementor-widget-divider--view-line_icon) .elementor-divider-separator{border-block-start:var(--divider-border-width) var(--divider-border-style) var(--divider-color)}.elementor-widget-divider--separator-type-pattern{--divider-border-style:none}.elementor-widget-divider--separator-type-pattern.elementor-widget-divider--view-line .elementor-divider-separator,.elementor-widget-divider--separator-type-pattern:not(.elementor-widget-divider--view-line) .elementor-divider-separator:after,.elementor-widget-divider--separator-type-pattern:not(.elementor-widget-divider--view-line) .elementor-divider-separator:before,.elementor-widget-divider--separator-type-pattern:not([class*=elementor-widget-divider--view]) .elementor-divider-separator{width:100%;min-height:var(--divider-pattern-height);-webkit-mask-size:var(--divider-pattern-size) 100%;mask-size:var(--divider-pattern-size) 100%;-webkit-mask-repeat:var(--divider-pattern-repeat);mask-repeat:var(--divider-pattern-repeat);background-color:var(--divider-color);-webkit-mask-image:var(--divider-pattern-url);mask-image:var(--divider-pattern-url)}.elementor-widget-divider--no-spacing{--divider-pattern-size:auto}.elementor-widget-divider--bg-round{--divider-pattern-repeat:round}.rtl .elementor-widget-divider .elementor-divider__text{direction:rtl}.e-con-inner>.elementor-widget-divider,.e-con>.elementor-widget-divider{width:var(--container-widget-width,100%);--flex-grow:var(--container-widget-flex-grow)}<\/style>\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-aa32777 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"aa32777\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5b8ceef\" data-id=\"5b8ceef\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0ed985f elementor-widget elementor-widget-text-editor\" data-id=\"0ed985f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">NEW YORK, August 23, 2023 \u2014 <\/span><a href=\"http:\/\/www.octane.co\"><span style=\"font-weight: 400;\">Octane<\/span><\/a><span style=\"font-weight: 400;\">\u00ae<\/span><span style=\"font-weight: 400;\"> (Octane Lending, Inc.<\/span><span style=\"font-weight: 400;\">\u00ae<\/span><span style=\"font-weight: 400;\">), the fintech revolutionizing the buying experience for major recreational purchases, announced that it has achieved key milestones during the first half of 2023 on its journey to make buying better.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Octane surpassed $3B in aggregate originations through its in-house lender, <\/span><a href=\"https:\/\/www.roadrunnerfinancial.com\/\"><span style=\"font-weight: 400;\">Roadrunner Financial<\/span><\/a><span style=\"font-weight: 400;\">\u00ae. The company also saw considerable growth in its newer verticals. Octane grew originations in recreational vehicles (RVs) by 85% since the second half of 2022 and increased tractor and trailer originations by 112% year-over-year.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Adding to its extensive network of Original Equipment Manufacturers (OEMs), Octane launched prime and subvented non-prime financing partnerships with <\/span><a href=\"https:\/\/ironbullcart.com\/\"><span style=\"font-weight: 400;\">Iron Bull Carts<\/span><\/a><span style=\"font-weight: 400;\">, a provider of powerful, stylish, and comfortable golf carts; <\/span><a href=\"https:\/\/www.scag.com\/\"><span style=\"font-weight: 400;\">Scag Power Equipment<\/span><\/a><span style=\"font-weight: 400;\">, a division of Metalcraft of Mayville, Inc., one of the largest independent manufacturers of commercial and residential mowing equipment and debris\/turf management equipment in the world; and <\/span><a href=\"https:\/\/www.tgb.com\/\"><span style=\"font-weight: 400;\">Taiwan Golden Bee<\/span><\/a><span style=\"font-weight: 400;\">, one of the world\u2019s leading manufacturers of ATVs, scooters, engines, and related key components.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">By delivering a fast, easy experience, Octane strengthened its relationships with dealers. The company funded loans for over 800 dealers who had not funded with Roadrunner Financial during the same period in the prior year. Furthermore, the company\u2019s award-winning, digital soft pull tool, <\/span><a href=\"https:\/\/octane.co\/o\/prequal\/\"><span style=\"font-weight: 400;\">Octane Prequal<\/span><\/a><span style=\"font-weight: 400;\">\u2122, helped dealers increase their customer base by driving high-quality, high-intent buyers in-store with an experience that saves time for both dealers and consumers. During the first half of 2023, the number of dealers who added Octane Prequal to their websites increased by 140% year-over-year.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Octane expanded its innovative and differentiated offering by rolling out new products and services. Building on the success of Octane Prequal, the company launched its newest digital soft pull tool, <\/span><a href=\"https:\/\/octane.co\/o\/prequal-flex-soft-pull-prequalification-tool\/\"><span style=\"font-weight: 400;\">Prequal Flex<\/span><\/a><span style=\"font-weight: 400;\">\u2122, which enables dealers to reach consumers through all of their marketing channels, including email, social media, text, advertising, and events. Prequal Flex rolled out to powersports dealers nationwide in May and, by the end of June, over 150 dealers had used the tool to submit at least one application. Octane also <\/span><a href=\"https:\/\/octane.co\/o\/introducing-advertising-on-renowned-octane-media-properties\/\"><span style=\"font-weight: 400;\">introduced advertising<\/span><\/a><span style=\"font-weight: 400;\"> on its renowned <\/span><a href=\"https:\/\/octanemedia.co\/\"><span style=\"font-weight: 400;\">Octane Media<\/span><\/a><span style=\"font-weight: 400;\">\u2122 properties, which include <\/span><a href=\"https:\/\/www.cycleworld.com\/\"><i><span style=\"font-weight: 400;\">Cycle World<\/span><\/i><\/a><span style=\"font-weight: 400;\">\u00ae, <\/span><a href=\"https:\/\/www.motorcyclistonline.com\"><i><span style=\"font-weight: 400;\">Motorcyclist<\/span><\/i><\/a><span style=\"font-weight: 400;\">\u00ae, and <\/span><a href=\"https:\/\/www.utvdriver.com\/\"><i><span style=\"font-weight: 400;\">UTV Driver<\/span><\/i><\/a><span style=\"font-weight: 400;\">\u00ae, enabling leading OEMs and other industry players to connect with millions of high-intent powersports buyers. In March, Octane rolled out a unique <\/span><a href=\"https:\/\/octane.co\/o\/launch-of-octane-preferred-b2b-loyalty-program\/\"><span style=\"font-weight: 400;\">business-to-business (B2B) loyalty program<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/octane.co\/o\/preferred-program\/\"><span style=\"font-weight: 400;\">Octane Preferred<\/span><\/a><span style=\"font-weight: 400;\">\u2122, to all of its powersports dealer partners nationwide. During Q2 2023, more than 700 dealers benefited from the first two tiers of Octane Preferred each month.<\/span><\/p><p><span style=\"font-weight: 400;\">\u201cDespite challenging market conditions, Octane has remained successful by leveraging our digital tools and unique services, as well as our strong relationships with dealer and OEM partners,\u201d said Jason Guss, CEO and Co-Founder of Octane. \u201cOur focus on innovation and the customer experience will continue to position us well as we deliver on our mission to connect people with their passions and make buying better.\u201d<\/span><\/p><p><span style=\"font-weight: 400;\">Continuing its success in capital markets, Octane closed two asset-backed securitizations, <\/span><a href=\"https:\/\/octane.co\/o\/407-million-asset-backed-securitization-upsize-from-initial-305-million-target-issuance\/\"><span style=\"font-weight: 400;\">OCTL 2023-1<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/octane.co\/o\/400-million-asset-backed-securitization-upsize-from-initial-300-million-target-issuance\/\"><span style=\"font-weight: 400;\">OCTL 2023-2<\/span><\/a><span style=\"font-weight: 400;\">, both of which were upsized to $400M. The senior class of notes in both transactions were rated AAA by Standard &amp; Poor\u2019s (S&amp;P)* and Kroll Bond Rating Agency (KBRA)**, a testament to the strength of Octane\u2019s prudent credit underwriting as well as its thoughtful servicing strategies and dedicated collections activities. During H1 2023, S&amp;P raised its ratings on eight classes of notes and affirmed its ratings on three classes of notes across three issuances.* At the same time, KBRA upgraded 14 classes of notes and affirmed seven classes across multiple issuances.** Octane has completed $2.7 billion of asset-backed securitizations through eight transactions since launching the program in December 2019. <\/span><span style=\"font-weight: 400;\">\u00a0<\/span><span style=\"font-weight: 400;\">Additionally, Octane closed a new $125M warehouse facility in April, bringing its total revolving capacity to $925M, while also renewing and extending the existing maturities of its other four facilities for up to an additional two years.<\/span><\/p><p><span style=\"font-weight: 400;\">Octane also continued to receive <\/span><a href=\"https:\/\/octane.co\/o\/awards\/\"><span style=\"font-weight: 400;\">awards<\/span><\/a><span style=\"font-weight: 400;\"> for its products, leadership, and culture, including <\/span><a href=\"https:\/\/www.prweb.com\/releases\/octane_recognized_for_consumer_lending_innovation_in_2023_fintech_breakthrough_awards_program\/prweb19240855.htm\"><span style=\"font-weight: 400;\">\u201cBest Consumer Lending Product\u201d<\/span><\/a><span style=\"font-weight: 400;\"> in the 7th annual FinTech Breakthrough Awards and a <\/span><a href=\"https:\/\/www.bintelligence.com\/posts\/11-executives-55-companies-and-91-products-win-2023-big-innovation-award\"><span style=\"font-weight: 400;\">BIG Innovation Award<\/span><\/a><span style=\"font-weight: 400;\"> from the <\/span><i><span style=\"font-weight: 400;\">Business Intelligence Group.<\/span><\/i><span style=\"font-weight: 400;\"> Additionally, <\/span><a href=\"https:\/\/www.linkedin.com\/in\/jaguss\/\"><span style=\"font-weight: 400;\">Jason Guss<\/span><\/a><span style=\"font-weight: 400;\">, CEO and Co-Founder of Octane, was named <\/span><a href=\"https:\/\/stevieawards.com\/aba\/entrepreneur-awards\"><span style=\"font-weight: 400;\">Best Entrepreneur &#8211; Computer Software &#8211; 500 or More Employees<\/span><\/a><span style=\"font-weight: 400;\"> at the American Business Awards, and <\/span><a href=\"https:\/\/www.linkedin.com\/in\/muralivajjiravel\/\"><span style=\"font-weight: 400;\">Murali Vajjiravel<\/span><\/a><span style=\"font-weight: 400;\">, Chief Technology Officer at Octane, placed in the tenth spot on <\/span><i><span style=\"font-weight: 400;\">Financial Technology Report<\/span><\/i><span style=\"font-weight: 400;\">\u2019s list of the <\/span><a href=\"https:\/\/thefinancialtechnologyreport.com\/the-top-25-financial-technology-ctos-and-cios-of-2023\/\"><span style=\"font-weight: 400;\">Top 25 Financial Technology CTOs and CIOs of 2023<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p><p><b>Disclaimers<\/b><\/p><p><span style=\"font-weight: 400;\">This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.<\/span><\/p><p><span style=\"font-weight: 400;\">*The full analysis for S&amp;P\u2019s ratings, including any updates, which you should review and understand, is available on <\/span><a href=\"https:\/\/www.spglobal.com\/en\/\"><span style=\"font-weight: 400;\">spglobal.com<\/span><\/a><span style=\"font-weight: 400;\"> and can be accessed <\/span><a href=\"https:\/\/disclosure.spglobal.com\/ratings\/en\/regulatory\/instrument-details\/sectorCode\/STRUC%20-%20ABS\/entityId\/703625\/issueId\/1746313\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\"> for OCTL 2023-1, <\/span><a href=\"https:\/\/login.spglobal.com\/oam\/server\/obrareq.cgi\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\"> for OCTL 2023-2, and <\/span><a href=\"https:\/\/disclosure.spglobal.com\/ratings\/en\/regulatory\/article\/-\/view\/type\/HTML\/id\/3018339\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\"> for the recent upgrades and affirmations.<\/span><\/p><p><span style=\"font-weight: 400;\">**KBRA\u2019s ratings are subject to all of the terms and conditions set forth in the related report and KBRA\u2019s website, which you should review and understand, and can be accessed <\/span><a href=\"https:\/\/www.kbra.com\/transactions\/6696\/ratings\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\"> for OCTL 2023-1, <\/span><a href=\"https:\/\/login.kbra.com\/login?state=hKFo2SBoaV9VV2JzVDJPeFg5XzgwQ29TSGRTMTRmcWpzOGZzSaFupWxvZ2luo3RpZNkgaEQwMlN4QlVzOEh5X1lBaFFjbndITGgzNnh1bUtNZkGjY2lk2SBzeHducEx6V1FWeVhLUTRvUmVUbktIRDY0VW8xcmdFMQ&amp;client=sxwnpLzWQVyXKQ4oReTnKHD64Uo1rgE1&amp;protocol=oauth2&amp;audience=kbra-com-services&amp;scope=openid%20profile%20email%20offline_access&amp;response_type=code&amp;redirect_uri=https%3A%2F%2Fwww.kbra.com%2Fauth%2Fcallback\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\"> for OCTL 2023-2, and <\/span><a href=\"https:\/\/www.kbra.com\/publications\/RbdwSyhj\/octane-receivables-trust-comprehensive-surveillance-report\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\"> for the recent upgrades and affirmations.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">This is not an offer, solicitation of an offer, recommendation or advice to buy or sell any security, financial product or instrument.<\/span><\/p><p>Our website is for informational purposes only. We do not guarantee the accuracy or completeness of information on or available through this website, and we are not responsible for inaccuracies or omissions in that information or for actions taken in reliance on that information. Please read any applicable disclosures before using or relying on information on or available through this website. Seek professional advice before investing in our securities.<\/p><p><b>###<\/b><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Launches 3 New Partnerships, Grows RV Originations by 85%, and Increases Adoption of Octane Prequal by 140% in H1 2023 Octane surpassed $3B in aggregate originations through its in-house lender,<\/p>\n<div><a href=\"https:\/\/octane.co\/o\/h1-2023-octane-surpasses-3b-in-aggregate-originations-on-its-journey-to-make-buying-better\/\" class=\"exp-read-more exp-read-more-underlined\">Read More<\/a><\/div>\n","protected":false},"author":25,"featured_media":6094,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[34],"tags":[61],"class_list":["post-6092","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press","tag-61"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.3 (Yoast SEO v23.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Octane Surpasses $3B in Aggregate Originations on Its Journey to Make Buying Better | Octane<\/title>\n<meta name=\"description\" content=\"Launches 3 New Partnerships, Grows RV Originations by 85%, and Increases Adoption of Octane Prequal by 140% in H1 2023\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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