Octane Lending has raised USD 100 million in a Series F funding round, increasing the company’s total equity capital raised since its founding to USD 342 million.
The latest round includes both primary capital to support ongoing operations and growth, as well as funds allocated to secondary share transactions. The Series F was led by Valar Ventures, with participation from existing and new backers including Upper90, Huntington Bank, Camping World, Good Sam, and Holler-Classic. Octane’s previous funding round, a Series E, closed in 2024.
Founded in 2014, Octane operates a digital lending platform focused on financing for powersports and other recreational vehicle purchases. Through its in-house lender, Roadrunner Financial, Inc., the company has originated more than USD 7 billion in loans. It has also issued over USD 4.7 billion in asset-backed securities and, since December 2023, has sold or committed to sell USD 3.3 billion in secured consumer loans. According to the company, Octane is currently GAAP net income profitable and recorded originations growth of more than 30% between the third quarter of 2024 and the third quarter of 2025.
Product expansion and use of proceeds
Octane stated that the new capital will be directed towards expanding its product set and supporting entry into additional markets. Representatives from Octane indicated that the funding is intended to accelerate development efforts and execution of initiatives already underway, rather than a shift in business strategy.
During 2025, the company introduced several updates to its merchant and consumer-facing platforms. These included changes to its financing portal aimed at reducing application and closing times for dealers, as well as adjustments to its customer portal that simplify payment options and support queries. Octane said these updates are designed to improve transaction efficiency for merchants and usability for borrowers.
Octane works with around 60 original equipment manufacturer partners and operates across markets it estimates to be worth a combined USD 150 billion.
