Funding Round attributes
Octane, a fintech company specializing in powersports financing, has announced the successful completion of a $326 million asset-backed securitization. This marks the company’s 12th securitization since the launch of its program in December 2019. To date, Octane has issued over $4 billion in asset-backed securities, reinforcing its position as a key player in the powersports financing sector.
The latest transaction, identified as OCTL 2024-3, is backed by fixed-rate installment loans issued through Roadrunner Financial, Octane’s in-house lender. These loans are tailored to serve customers purchasing powersports equipment, such as motorcycles, ATVs, and other recreational vehicles. This securitization is a testament to the company’s sustained growth and ability to meet the needs of a niche yet robust market segment.
While the press release did not disclose specific names of investors involved in the deal, it highlighted Octane's proven ability to attract institutional interest in its securities program. The company’s consistent track record and robust underwriting practices have likely contributed to the positive reception of its offerings in the market.
