Octane Partners with Polaris to Drive Instant Digital Funding for Powersports Enthusiasts
Multi-year partnership delivers a superior and seamless experience for consumers and Polaris resellers
NEW YORK, December 14, 2021 / PRNewswire / – Octane™ (Octane Lending Inc.®), the fintech that is revolutionizing the shopping experience for major recreational purchases, today announced a multi-year partnership with Polaris inc. (NYSE: PII), a global leader in powersports, to provide customers with a seamless digital process for the financing of powersports purchases. Through partnership, which is effective January 1, 2022, Polaris customers and dealers can take advantage of Octane’s fast and easy digital lending experience to finance Polaris Sportsman, RANGER, RZR and GENERAL all-terrain vehicles, Polaris snowmobiles, Indian Motorcycle and Slingshot vehicles.
“There is growing interest in outdoor recreation among consumers,” said Bob mack, CFO of Polaris. “We’re excited to team up with Octane to leverage their innovative digital finance solution to deliver a better lending experience to our customers and dealers and help even more people discover the joy of being there. ‘outside. “
“It is a privilege to partner with Polaris, a leader in the powersports market, to provide an unparalleled financial experience to its extensive dealer network and loyal customer base,” said Jason guss, CEO of Octane. “Adding Polaris to our strong network of existing OEM partners will help us fulfill our mission of connecting people with their passions as we transform the buying journey for core recreational purchases. “
Octane’s customer-centric digital loan origination system dramatically improves the purchasing process in the powersports industry as it makes loan applications, approvals and documentation instant. Polaris dealers will benefit from Octane’s digital tools, including its soft-pull credit product, Safe Rate ™, and its fast and easy lending process, which allows dealers to complete transactions in under five minutes.
Through its internal lender Roadrunner Financial, Inc.®, Octane offers full spectrum credit coverage for preferred, novice and credit worthy customers just outside the traditional “prime” range, enabling even more powersports enthusiasts to purchase a Polaris vehicle. Coverage can include a guaranteed back end to allow customers to fund related products such as gap insurance, extended service contracts, parts and labor. Through this partnership, Polaris dealers will also benefit from competitive rates and flexible terms for their customers.
With the growing interest in outdoor recreation, Octane continues to gain market share, which is a testament to its superior funding experience, customer focus and innovation.
Octane ™ provides access to instant financing to fuel your lifestyle. Octane dramatically simplifies and speeds up the transaction process for major recreational purchases such as motorcycles, ATVs, and zero-turn lawn mowers by adding value every step of the way in the shopping journey. Octane offers automated underwriting, innovative credit products and financing, through its internal lender Roadrunner Financial, Inc.®. Octane reaches millions of enthusiasts through its editorial brands like Bike world and UTV Driver and helps consumers buy their favorite products by prequalifying them on reseller and OEM websites. Octane is revolutionizing lending in underserved verticals in markets that account for tens of billions of dollars in annual transactions.
Octane is a remote fintech company with offices in New York and Dallas and more than 400 employees. In August 2021, Octane announced to have raised $ 52 million in Series D financing bringing the valuation of the company to more $ 900 million with over $ 192 million of the total equity capital raised to date. Visit www.octane.co.
As a global leader in powersports, Polaris Inc. (NYSE: PII) has pioneered product innovations and rewarding experiences and services that have invited people to discover the joy of being outdoors since our founding in 1954. With 2020 annual sales of $ 7.0 billion, Polaris’ high-quality product line includes the Polaris RANGER, RZR and GENERAL side-by-side all-terrain vehicles; Sportsman all-terrain vehicles; Indian Motorcycle midsize and heavy duty motorcycles; Slingshot motorcycle-roadsters; snowmobiles; and pontoons, cruise ships and pontoons, including industry leaders Bennington pontoons. Polaris enhances the driving experience with parts, clothing and accessories, as well as a growing portfolio of aftermarket parts, including Transamerican Auto Parts. Polaris’ presence in adjacent markets includes military and commercial all-terrain vehicles, quadricycles and electric vehicles. Proudly based at Minnesota, Polaris serves more than 100 countries around the world. www.polaris.com