NEW YORK, Nov. 18, 2021 /PRNewswire/ -- Octane (Octane Lending Inc.), the fintech revolutionizing the buying experience for major recreational purchases, today announced it will strengthen its partnership with BRP Inc. (TSX: DOO) (NASDAQ: DOOO), global leader in powersports vehicles, propulsion systems and boats, to provide customers and dealers with a seamless, digital experience for financing the new 2022 Sea-Doo Switch pontoon.
This partnership marks Octane's first foray into new markets following its recent Series D funding round. By entering the pontoon space, Octane is expanding beyond traditional powersports vehicles and mowers in its quest to bring its seamless, digital retail experience to other underserved markets.
Through Octane's expanded partnership with BRP, customers can prequalify for financing for the Sea-Doo Switch directly on BRP's websites. Since Octane's automated solution uses a soft credit pull, Sea-Doo customers can realize their purchasing power through instant, competitive lending offers without any impact to their credit scores all within the digital shopping experience. Octane's finance solution via Roadrunner Financial, its in-house lender, is available to a full spectrum of creditworthy customers, including prime customers, first time buyers, and customers outside the traditional "prime" range, making passion purchases such as the Sea-Doo Switch attainable for more customers than other national lenders. Additionally, Octane's digital financing platform enables customers to upload documentation to complete their purchase online, making the process of securing a loan faster and easier.
Sea-Doo Switch dealers will also benefit from the speed and ease of Octane's lending platform, which can help them close deals in under five minutes. As a result of this partnership, Switch dealers can also take advantage of strong prime rates, competitive promotions and a superior financing experience.
"We're excited to strengthen our longstanding relationship with BRP to provide instant financing to fuel our customers' lifestyles and deliver a seamless buying experience for the Sea-Doo Switch," said Jason Guss, CEO of Octane. "Our expansion into the pontoon market is the beginning of Octane's next phase of growth as we continue to deliver on our mission to connect consumers with their passions."
BRP and Octane began their partnership in 2017 with powersports vehicles. Their collaboration brings digital retail to life by enabling consumers to prequalify for financing on BRP websites, which brings web visitors into the transaction flow and sends more qualified leads to dealers.
About Octane:
Octane offers instant financing to fuel your lifestyle. Octane dramatically simplifies and accelerates the transaction process for major recreational purchases such as motorcycles, ATVs, and zero-turn lawn mowers by adding value at each stage of the buying journey. Octane offers automated underwriting, innovative credit products, and financing, through its in-house lender Roadrunner Financial, Inc. Octane reaches millions of enthusiasts through its editorial brands like Cycle World and UTV Driver and helps consumers buy their favorite products by prequalifying them on dealer and OEM websites. Octane is revolutionizing lending in underserved verticals within markets that account for tens of billions of dollars in annual transactions.
Octane is a remote-first fintech company with offices in NYC and Dallas and over 400 employees. To learn more about career opportunities and view openings, please visit the careers page on www.octane.co.
Press Contacts: | Investor Relations: |
Shannon O'Hara | Kartik Kothari |
Director of Corporate Communications | SVP of Corporate Development & IR |
shannon.ohara@octane.co | kartik.kothari@octane.co |
N6A on behalf of Octane
octane@n6a.com
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SOURCE Octane/North 6th Agency
