Total amount raised
$342M
Latest funding date
2025-12-15
Location
Octane has successfully raised funding over 25 rounds, with the latest being a Series F round involving six investors, including Valar Ventures as the lead investor. The company offers instant financing solutions for powersports, outdoor equipment, and recreational purchases, emphasizing speed and ease of obtaining credit.
Keep reading to explore the intricacies of Octane's fundraising journey and the investors backing this innovative platform.
Octane has raised $342 million in total equity funding across multiple rounds backed by investors including Valar Ventures, Progressive Investment Company, Upper90, Citi Ventures, Huntington Bank, and others.
Keep reading to explore Octane's fundraising journey, its key investors, and what the company plans to do next.
What Is Octane?
Octane (Octane Lending, Inc.) is a New York-based fintech company founded in 2014 that revolutionizes the buying experience for large recreational and lifestyle purchases — including powersports vehicles, RVs, and marine products. Octane offers instant, digital point-of-sale financing, connecting consumers with dealer partners and lending solutions powered by its proprietary platform. Since its founding, Octane has generated over $7.5 billion in total loan originations and completed $4.7 billion in asset-backed securitizations.
How Much Funding Has Octane Raised?
- Seed Round
- Amount Raised: Approximately USD 1,500,000
- Date: 2014
- Lead Investors: Undisclosed
- Participants: Undisclosed
- Series A
- Amount Raised: Approximately USD 26,400,000
- Date: October 2016
- Lead Investors: Berenson Capital Partners, IA Ventures
- Participants: Contour Venture Partners, and others
- Series B
- Amount Raised: Approximately USD 41,000,000
- Date: May 2018
- Lead Investors: Valar Ventures
- Participants: Citi Ventures, Upper90, and others
- Series C
- Amount Raised: Approximately USD 70,000,000
- Date: November 2019
- Lead Investors: Valar Ventures
- Participants: Contour Venture Partners, Citi Ventures, and others
- Series D
- Amount Raised: USD 52,000,000
- Date: August 2021
- Lead Investors: Progressive Investment Company, Inc. (Progressive Insurance group)
- Participants: Valar Ventures, Upper90, Contour Venture Partners, Citi Ventures, Third Prime, Parkwood, Gaingels, ALIVE
- Series E
- Amount Raised: USD 50,000,000
- Date: August 2024
- Lead Investors: Valar Ventures
- Participants: Upper90
- Series F
- Amount Raised: USD 100,000,000
- Date: December 15, 2025
- Lead Investors: Valar Ventures
- Participants: Upper90, Huntington Bank, Camping World, Good Sam, Holler-Classic, and others
- Post-Money Valuation: USD 1,300,000,000
Total Amount Raised: USD 342,000,000 in total equity funding since inception (per Octane's official press release, December 2025). Note: Some early round amounts are approximate based on available public disclosures.
Key Investors
- Valar Ventures
- Details: Valar Ventures is a New York-based venture capital firm co-founded by Peter Thiel. Valar has been Octane's most consistent lead investor, leading the Series B, Series C, Series E, and Series F rounds, and participating in Series D. James Fitzgerald, Founding Partner, represented Valar in the Series F.
- Progressive Investment Company, Inc.
- Details: A member of the Progressive Insurance group, Progressive led Octane's Series D round in August 2021, bringing the company's valuation to over $900 million.
- Upper90
- Details: Upper90 is a New York-based credit and equity investment firm. Billy Libby serves as Managing Partner. Upper90 participated in Series D, Series E, and Series F.
- Citi Ventures
- Details: The venture investment arm of Citigroup. Citi Ventures participated in Octane's Series B, Series C, and Series D rounds.
- Huntington Bank
- Details: Huntington National Bank participated in Octane's Series F round in December 2025, making it a new strategic investor in the company.
- Berenson Capital Partners
- Details: Led Octane's Series A round in 2016 alongside IA Ventures, with Gary D. Nusbaum joining Octane's Board of Directors.
What's Next for Octane?
With $100 million in new Series F funding and a $1.3 billion valuation, Octane is well-positioned to continue expanding its footprint in the recreational and lifestyle finance space. The company plans to use the capital to fuel growth initiatives, including further expanding its Captive-as-a-Service offerings, deepening partnerships with OEM manufacturers, and entering new markets. Octane's strong profitability (GAAP net income positive) and record originations growth of over 30% from Q3 2024 to Q3 2025 signal a company entering a new phase of scale. Investors and industry watchers will be eyeing a potential IPO as the company solidifies its unicorn status.
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