Surpasses $2.8 Billion in Loan Sale Commitments To-Date
Octane, the fintech revolutionizing the buying experience for major recreational purchases, announced that it has executed a $300 million forward-flow transaction with the Moore Specialty Credit (MSC) Platform, the Private Asset-Backed Finance (ABF) platform of Moore Capital Management, LP (Moore), a global private investment management firm.
Through this two-year, renewable agreement, MSC has agreed to purchase up to $300 million of high-quality, fixed-rate installment powersports loans originated by Octane’s in-house lender, Roadrunner Financial®, Inc. Octane’s in-house loan servicer, Roadrunner Account Services, LLC, will service the loans.
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The transaction – Octane’s fourth forward-flow agreement to date – brings the Company’s total value of forward-flow commitments signed in the past year to more than $2 billion. Octane has sold or entered into commitments to sell more than $2.8 billion since its first whole loan sale in December 2023.
“We deeply appreciate and value the MSC team’s partnership as we endeavor to deliver innovative, tailored solutions and a seamless, digital experience for dealers and OEMs,” said Steven Fernald, President and Chief Financial Officer at Octane. “We are thrilled to see growing demand from esteemed partners such as MSC for our asset class, buoyed by consistent and stable credit performance, and look forward to deepening our relationship with them in the years to come.”
“We are pleased to initiate this new partnership with Octane,” said Erik Siegel, Chief Investment Officer of the Moore Specialty Credit Platform. “Octane’s strong credit performance, focused underwriting, and differentiated approach to secured lending make this a compelling opportunity for MSC. We look forward to working together to support the continued development of this growing asset class.”
Octane continues to diversify its large base of existing capital providers in order to facilitate its continued strong growth and momentum. The company recently surpassed $6 billion in aggregate originations, seven months after it surpassed $5 billion in aggregate originations. Octane grew originations in 2024 by 36% year over year.
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