Portfolio company Octane Lending - a leading technology marketplace that empowers consumers to efficiently access powersports vehicles - has announced the close of a growth debt facility from Upper90, following the close of its successful Series B capital raise.
This new financing brings Octane's total capital raised to $67M of equity and $255M of debt since the company's inception in 2014. Octane has also secured partnerships with 40 manufacturers including BRP and Suzuki which has enabled the company to expand its geographic footprint and reach a broader customer base. "We are excited to support Jason Guss [CEO of Octane Lending] and the incredible team that he has assembled by providing this capital to both accelerate Octane's growth and, as importantly, mitigate any equity dilution to Jason and his tremendous group of existing investors," said Jason Finger of Upper90. "Upper90 provided a novel structure that solved our debt and equity needs, allowing us to execute on our growth plans. The firm has quickly become a strategic asset to our business and adds value far beyond capital alone," said Guss.