The Fast-Growing Electric Vehicle (EV) Industry Marks Octane’s Fourth Market Entrance in 2022
NEW YORK, Nov. 17, 2022 /PRNewswire/ — Octane® (Octane Lending, Inc.®), the fintech revolutionizing the buying experience for major recreational purchases, today announced its expansion into electric vehicles (EVs) through a strategic partnership with UBCO, the electric adventure motorcycle company based in Oregon and founded in New Zealand.
Effective immediately, customers and dealers of UBCO’s fully electric suite of adventure bikes will benefit from Octane’s fast and easy buying experience. Octane’s digital platform and simple application allow customers to upload documents and apply for financing online, saving time at closing. Octane also provides soft-pull digital tools that enable dealers to instantly prequalify customers without impacting their credit scores. Through Octane’s in-house lender, Roadrunner Financial, Inc.®, UBCO dealers can offer competitive rates and flexible terms to a wide range of prime and non-prime customers, making electric bikes accessible to more customers.
UBCO has seen its dealership and customer base growing fast in the US, alongside the nation’s growing hunger for adventure and off-road exploration.
“UBCO wants to get more people on two-wheels than ever before,” said Phil Harrison, Chief Revenue Officer at UBCO. “Up to 92% of Americans currently don’t participate in Powersports and we want to change that by providing approachable, easy to ride vehicles that expand Powersports to the masses. Octane’s purely digital experience is a key part of the value proposition to our customers.”
“We’re thrilled to partner with UBCO to bring our seamless buying experience to even more enthusiasts and to fuel our customers’ lifestyles in an environmentally-friendly way,” said Jason Guss, CEO and Co-Founder of Octane. “The EV industry allows us to merge technology, sustainability, and innovation while tapping into a rapidly-expanding market and delivering on our mission to connect people with their passions.”
Today’s announcement follows a period of growth for Octane. The company recently surpassed $1B in year-to-date originations and brought its digital buying experience to three new markets: RVs, tractors and trailers.
About Octane:
Octane® is revolutionizing recreational purchases by delivering a seamless, end-to-end digital buying experience. We connect people with their passions by combining cutting-edge technology and innovative risk strategies to make lifestyle purchases – like powersports vehicles, RVs, and outdoor power equipment – fast, easy, and accessible.
Octane adds value throughout the customer journey: inspiring enthusiasts with our editorial brands, including Cycle World® and UTV Driver®, instantly prequalifying consumers for financing online, routing customers to dealerships for an easy closing, and supporting customers throughout their loan with superior loan servicing.
Founded in 2014, we’re a remote-first company with over 30 OEM and 4,000 dealer partners. We made the Inc 5000 list of the fastest growing private companies in America and are Certified as a Great Place to Work®. Visit www.octane.co.
Octane® is a registered service mark of Octane Lending, Inc.
Media Relations: Shannon O’Hara
Director, Corporate Communications
[email protected]
Investor Relations: Kartik Kothari
SVP, Corporate Development and Investor Relations
[email protected]
About UBCO:
UBCO is an Electric Adventure Vehicle (EAV) brand focused on increasing access to everyday adventure. Since its launch in 2015, UBCO has developed into a digitally connected EAV platform including on and off-road vehicles, accessories, and cloud-based subscription software. Founded in New Zealand, manufactured in the US, UBCO is available nationwide.
Media Relations: Melanie Tuala
Communications Manager
[email protected]
+1 (541) 357-4067 ext. 023
SOURCE Octane
