#USA #New York #Octane Lending #Jon Vestal #Kartik Kothari

Octane Enhances Leadership Team

Octane® (Octane Lending, Inc.®), a leading fintech company transforming the financing landscape, has declared the promotion of two key executives to the role of Executive Vice President, the company's first to do so. These appointments reflect Octane's commitment to bolster its leadership and drive further growth. The promotions are effective from January 1, 2025.

Meet the New Executive Team

Jon Vestal: Executive Vice President, Head of Powersports and Outdoor Power Equipment (OPE)

Jon Vestal has been appointed as Executive Vice President and will oversee the Powersports and OPE divisions. Over his seven-year tenure with Octane, Vestal has played a critical role in the company’s many achievements, including surpassing $5 billion in total financing originations. Notably, in the past year alone, he helped Octane reach an impressive $1.6 billion in annual originations. His leadership has been instrumental in forging strong partnerships with industry leaders such as Kawasaki and CFMOTO.

Vestal's strategic initiatives led to the launch of RideNow Finance in collaboration with RideNow, enhancing customer access to financing through innovative digital tools and full-spectrum solutions. Additionally, he has been pivotal in expanding Octane's scope into new markets, including recreational vehicles (RVs), tractors, trailers, and lawnmowers. Before joining Octane, Vestal was the National Sales Director at another major loan provider, drawing on a wealth of experience in higher education and finance.

Vestal holds a Bachelor's degree in Finance from the University of Central Missouri and has steadily climbed the ranks within the company since his entry in 2017.

Kartik Kothari: Executive Vice President, Deputy Chief Financial Officer

The role of Deputy Chief Financial Officer has been filled by Kartik Kothari, who brings nearly two decades of experience in financial services covering fintech, consumer finance, and banking sectors. Since joining Octane in 2021, Kothari has significantly enhanced the company's operational efficiency, enabling the launch of new markets and products while refining the financial strategies that underpin Octane's success.

Prior to his appointment at Octane, Kothari oversaw public market preparations at a digital mortgage firm and gained valuable experience at Barclays, where he consulted on IPOs, mergers, and various financing agreements. He is a charterholder of the CFA® designation and possesses a Bachelor’s degree in Economics from Rutgers University.

Leadership Insights

Jason Guss, the CEO and Co-Founder of Octane, expressed his excitement over these new leadership appointments, stating, "With their myriad accomplishments and wealth of expertise, Jon and Kartik have proven themselves to be outstanding leaders. I'm grateful for their considerable contributions to Octane and thrilled that they will help guide Octane's next phase of growth in their new roles."

About Octane

Founded in 2014, Octane® is focused on revolutionizing the way people make recreational purchases. Its goal is to create a seamless, digital buying experience that facilitates easy access to financing for motorcycles, RVs, boats, and outdoor power equipment. With a network of around 40 OEM partners and 4,000 dealer partners, Octane stands at the forefront of integrating technology with financing to enhance customer experiences.

The company's ability to engage and retain top-tier talent has been a cornerstone of its success, and with Jon Vestal and Kartik Kothari stepping into these prominent roles, Octane is well-positioned for future accomplishments. For more information, visit Octane's website.