Octane, a fintech aiming to revolutionize buying experience for major recreational purchases, executed a $300 million forward-flow transaction with the Moore Specialty Credit (MSC) Platform, the private asset-backed finance platform of Moore Capital Management, a global private investment management firm.
Through this two-year, renewable agreement, MSC has agreed to purchase up to $300 million of high-quality, fixed-rate installment powersports loans originated by Octane’s in-house lender, Roadrunner Financial. Octane’s in-house loan servicer, Roadrunner Account Services, will service the loans.
The transaction, Octane’s fourth forward-flow agreement to date, brings the company’s total value of forward-flow commitments signed in the past year to more than $2 billion. Octane has sold or entered into commitments to sell more than $2.8 billion since its first whole loan sale in December 2023.
“We deeply appreciate and value the MSC team’s partnership as we endeavor to deliver innovative, tailored solutions and a seamless, digital experience for dealers and OEMs,” Steven Fernald, president and chief financial officer of Octane, said. “We are thrilled to see growing demand from esteemed partners such as MSC for our asset class, buoyed by consistent and stable credit performance, and look forward to deepening our relationship with them in the years to come.”
“We are pleased to initiate this new partnership with Octane,” Erik Siegel, chief investment pfficer of the Moore Specialty Credit Platform, said. “Octane’s strong credit performance, focused underwriting and differentiated approach to secured lending make this a compelling opportunity for MSC. We look forward to working together to support the continued development of this growing asset class.”
