{"id":6395,"date":"2024-08-06T09:05:33","date_gmt":"2024-08-06T09:05:33","guid":{"rendered":"https:\/\/octane.co\/o\/?p=6395"},"modified":"2024-08-06T12:38:46","modified_gmt":"2024-08-06T12:38:46","slug":"raises-50-million-in-series-e-funding-round","status":"publish","type":"post","link":"https:\/\/octane.co\/o\/raises-50-million-in-series-e-funding-round\/","title":{"rendered":"Octane Raises $50 Million in Series E Funding Round"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"6395\" class=\"elementor elementor-6395\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7579d55 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7579d55\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c706589\" data-id=\"c706589\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-5518d9c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5518d9c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-3542a34\" data-id=\"3542a34\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-49dd763 elementor-widget elementor-widget-image\" data-id=\"49dd763\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 05-08-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".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=\"791\" height=\"1024\" src=\"https:\/\/octane.co\/o\/wp-content\/uploads\/2024\/08\/aboutoctane_img-1-791x1024.jpg\" class=\"attachment-large size-large wp-image-6398\" alt=\"\" srcset=\"http:\/\/octane.co\/o\/wp-content\/uploads\/2024\/08\/aboutoctane_img-1-791x1024.jpg 791w, http:\/\/octane.co\/o\/wp-content\/uploads\/2024\/08\/aboutoctane_img-1-232x300.jpg 232w, http:\/\/octane.co\/o\/wp-content\/uploads\/2024\/08\/aboutoctane_img-1-768x994.jpg 768w, http:\/\/octane.co\/o\/wp-content\/uploads\/2024\/08\/aboutoctane_img-1-1187x1536.jpg 1187w, http:\/\/octane.co\/o\/wp-content\/uploads\/2024\/08\/aboutoctane_img-1-1582x2048.jpg 1582w, http:\/\/octane.co\/o\/wp-content\/uploads\/2024\/08\/aboutoctane_img-1-1160x1501.jpg 1160w, http:\/\/octane.co\/o\/wp-content\/uploads\/2024\/08\/aboutoctane_img-1-39x50.jpg 39w, http:\/\/octane.co\/o\/wp-content\/uploads\/2024\/08\/aboutoctane_img-1-650x841.jpg 650w, http:\/\/octane.co\/o\/wp-content\/uploads\/2024\/08\/aboutoctane_img-1-1000x1294.jpg 1000w, http:\/\/octane.co\/o\/wp-content\/uploads\/2024\/08\/aboutoctane_img-1-50x65.jpg 50w, http:\/\/octane.co\/o\/wp-content\/uploads\/2024\/08\/aboutoctane_img-1-750x971.jpg 750w, http:\/\/octane.co\/o\/wp-content\/uploads\/2024\/08\/aboutoctane_img-1-1140x1476.jpg 1140w, http:\/\/octane.co\/o\/wp-content\/uploads\/2024\/08\/aboutoctane_img-1-scaled.jpg 1978w\" sizes=\"(max-width: 791px) 100vw, 791px\" \/>\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-013f90c\" data-id=\"013f90c\" 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-054b466 elementor-widget elementor-widget-text-editor\" data-id=\"054b466\" 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><i><span style=\"font-weight: 400;\">New Equity Financing to Fuel Continued Growth, Product Innovation, and Expansion into New Markets<\/span><\/i><\/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-3c09a88 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3c09a88\" 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-7856871\" data-id=\"7856871\" 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-94a02db elementor-widget elementor-widget-text-editor\" data-id=\"94a02db\" 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 6, 2024 \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 closed its Series E funding round with $50 million in new equity capital. Octane has <\/span><a href=\"https:\/\/investor.octane.co\/\"><span style=\"font-weight: 400;\">raised $242 million<\/span><\/a><span style=\"font-weight: 400;\"> in total equity funding to date.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">The capital will fuel Octane\u2019s expansion into new markets, supercharge its growth in existing markets, and position the company even more favorably for long-term success. This funding round is unique in that it was composed entirely of existing investors looking to increase their investment in the company. <\/span><a href=\"https:\/\/www.valar.com\/\"><span style=\"font-weight: 400;\">Valar Ventures<\/span><\/a><span style=\"font-weight: 400;\"> led the round with participation from <\/span><a href=\"https:\/\/upper90.io\/\"><span style=\"font-weight: 400;\">Upper90<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p><p><span style=\"font-weight: 400;\">\u201cWe\u2019re honored to strengthen our relationship with Valar and Upper90 as we bring speed and ease to the financing experience,\u201d said Jason Guss, CEO and Co-Founder of Octane. \u201cOctane\u2019s digital tools and broad credit coverage have propelled us to become a leader in our initial market of powersports and gain significant traction in adjacent markets, like RVs. This new funding will help us build on this momentum and expand into new markets as we connect even more people with their passions.\u201d<\/span><\/p><p><span style=\"font-weight: 400;\">Since its founding in 2014, Octane has redefined the financing experience in the nearly $30 billion powersports market, which includes motorcycles, ATVs, UTVs, and personal watercraft. The company\u2019s innovative digital tools, including the industry-leading <\/span><a href=\"https:\/\/octane.co\/o\/redefining-powersports-lending-with-dealer-portal-2-0-release\/\"><span style=\"font-weight: 400;\">dealer platform<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/octane.co\/o\/awards\/\"><span style=\"font-weight: 400;\">award-winning<\/span><\/a> <a href=\"https:\/\/octane.co\/o\/prequal\/\"><span style=\"font-weight: 400;\">suite of soft-pull prequalification tools<\/span><\/a><span style=\"font-weight: 400;\">, help its over 4,000 dealer partners deliver a seamless experience to their customers. Through its in-house lender, <\/span><a href=\"https:\/\/roadrunnerfinancial.com\/\"><span style=\"font-weight: 400;\">Roadrunner Financial<\/span><\/a><span style=\"font-weight: 400;\">\u00ae, Inc., Octane has originated over $4 billion in loans and expanded into <\/span><a href=\"https:\/\/octane.co\/o\/entering-the-rv-market-to-streamline-and-digitize-the-buying-experience\/\"><span style=\"font-weight: 400;\">recreational vehicles (RVs)<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/octane.co\/o\/second-new-market-for-octane-in-2022\/\"><span style=\"font-weight: 400;\">tractors<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/octane.co\/o\/trailer-market-entry-for-octane\/\"><span style=\"font-weight: 400;\">trailers<\/span><\/a><span style=\"font-weight: 400;\">, and <\/span><a href=\"https:\/\/octane.co\/o\/ubco-and-octane-partner-to-bring-a-seamless-digital-buying-experience-to-electric-bikes\/\"><span style=\"font-weight: 400;\">electric vehicles<\/span><\/a><span style=\"font-weight: 400;\">. The company works with over 30 original equipment manufacturer (OEM) partners.<\/span><\/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>New Equity Financing to Fuel Continued Growth, Product Innovation, and Expansion into New Markets NEW YORK, August 6, 2024 \u2014 Octane\u00ae (Octane Lending, Inc.\u00ae), the fintech revolutionizing the buying experience<\/p>\n<div><a href=\"https:\/\/octane.co\/o\/raises-50-million-in-series-e-funding-round\/\" class=\"exp-read-more exp-read-more-underlined\">Read More<\/a><\/div>\n","protected":false},"author":25,"featured_media":6399,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[34],"tags":[66,55,53],"class_list":["post-6395","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press","tag-66","tag-company-growth","tag-investor-relations"],"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 Raises $50 Million in Series E Funding Round | Octane<\/title>\n<meta name=\"description\" content=\"New York-based fintech Octane raises $50 million in Series E Funding Round to fuel continued growth, product innovation, and market expansion.\" \/>\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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