Octane promotes two executives to EVP roles
Octane Lending recently promoted two executives to executive vice president, the first to hold the new title. Both appointments went into effect on January 1.
Jon Vestal has been named executive vice president and head of Powersports & Outdoor Power Equipment (OPE). During his seven years with Octane, Vestal has been integral to Octane’s achievement of countless milestones, including surpassing $5B in aggregate originations and $1.6 billion in annual originations in 2024.
Last year, Vestal’s leadership helped Octane to strengthen its relationships with Kawasaki and CFMOTO and expand its offering by partnering with RideNow to launch RideNow Finance. This private label partnership combines digital tools, full-spectrum financing, and branded lifecycle marketing. Additional notable accomplishments include building the sales function, signing and launching partnerships with Polaris and BRP, and leading Octane’s entrance into the recreational vehicle (RV), tractor, trailer, and mower markets. Vestal has held numerous leadership roles that have increased seniority since joining Octane in 2017.
Kartik Kothari has been named executive vice president and deputy chief financial officer. With nearly 20 years of financial services experience across fintech, consumer finance, and banking, Kothari has considerably impacted Octane since joining the company in 2021. Under Kothari’s leadership, Octane has strengthened its business by launching new markets and products, enhancing its financial strategy, and deepening relationships with strategic partners, capital markets, and investors.
“With their myriad accomplishments and wealth of expertise, Jon and Kartik have proven themselves to be outstanding leaders,” says Jason Guss, CEO and co-founder of Octane. “I’m grateful for their significant contributions to Octane and thrilled that they will help guide Octane’s next phase of growth in their new roles. Octane’s ability to attract and develop exceptional talent has always been a key driver in our success and I am even more optimistic about the future of our company with such strong executives on our team.”
