Octane raises $52M at a $900M+ valuation to assist individuals finance big recreational purchases

by RJ Shara | Aug 5, 2021 | Fundings and Exit, Startups

The majority of the time when people get loans, it’s for big life purchases such as a car or a house. However not every huge purchase is a need. Some are more for enjoyable, and the financing options for those types of buys — — such as atvs and motorcycles — — are more minimal. Today, Octane Loaning, […] Octane introduced with the goal of “making lending much better in ignored markets,” according to Guss. Because loaning is involved in about 80%of powersports purchases and about 80 %of loaning happens in the car dealership, Octane focused first on constructing a loaning platform for customers and car dealerships. Last year, it launched Octane Pre-qual, which allows customers to instantly prequalify for funding on OEM and dealership sites with a soft credit pull. Looking ahead, Octane plans to utilize its brand-new capital to expand to surrounding “other passion purchase” markets and continue to launch consumer engagement tools as well as purchasing options for customers going shopping for powersports lorries online. — TechCrunch” src=”https://techcrunch.com/2021/04/30/amid-the-ipo-gold-rush-how-should-we-value-fintech-startups/embed/#?secret=ipFucLuHdV” data-secret=”ipFucLuHdV” width=”800″ height=”450″ frameborder=”0″ marginwidth=”0″ marginheight=”0″ scrolling=”no” > …