Octane Lending Announces Investment Led by Berenson and IA Ventures
NEW YORK, NY - Octane Lending, Inc. (“Octane” or the “Company”), a technology-enabled powersports finance company, today announced the closing of its Series A round led by Berenson Capital Partners (“Berenson”) and IA Ventures. This capital will be used to support Octane’s rapid growth in powersports and adjacent verticals.
“Our goal is to simplify the consumer powersports financing process, creating an efficient and integrated marketplace of lenders, dealers, and consumers,” said Jason Guss, co-founder and CEO of Octane. “We are delighted by the growth that we have achieved over the past two years, and thrilled to partner with Berenson and IA Ventures as we strive to take our business to the next level.”
“We are very pleased and excited to partner with Octane’s exceptional management team,” said Berenson’s Gary D. Nusbaum and IA Ventures’ Roger Ehrenberg, both of whom have joined Octane’s Board of Directors, in a joint statement. “We have great confidence in the business, and look forward to working with the management team and high-quality existing investor base to build on the tremendous progress that Octane has made in a short period of time.”