ROSEVILLE, Calif., Jan. 25, 2022 /PRNewswire/ — TopMark Funding, a premier funding destination for commercial vehicle dealerships and small to midsized fleets, closed 2021 with a goal-breaking quarter helping to build on the momentum of a tremendous year and deliver results that make 2021 the company’s highest-performing year in its seven-year history.
In Q4 2021, TopMark Funding exceeded its revenue goal by 38%. Revenue in Q4 2021 was up 3 times year over year and the company finished ahead of its 2021 annual goal by 19%. A strong fourth quarter, despite industry talent shortages and limited truck inventory, is attributed to both increased commercial vehicle transportation needs as the country settles in to its new normal and TopMark continues to develop and build an impactful team, systems and approach to serving the transportation marketplace.
In addition, earnings continue to be stronger than anticipated with Q4 coming in at a net profit margin up 125% from forecast. Additionally, TopMark closed the year with an increased volume (Total Amount Financed) of 2.3 times year over year performance. The company exited 2021 with performance on an annualized run rate set to exceed $144 million in volume.
"The success that TopMark experienced in 2021 couldn’t be realized without the dedication and commitment of the senior operational and sales talent," said Managing Director and Co-Founder Evan Lang. "We know that our clients are receiving better funding solutions from the TopMark team, and we are excited to expand our service and impact on both the client the dealership segments in 2022."
In 2021, the company found success defining itself as the best-in-class employer for senior equipment finance sales professionals and centering its business on growing dealer relationships. These are key areas that you can expect to see more of from the company in the coming months. As the organization turns its attention to 2022, TopMark Funding is laser-focused on growth through geographic expansion, a continued emphasis on talent and evolving innovation in its technology to better serve its clients and partners. The company is aggressive in its outlook for continued expansion over the next twelve months.
About TopMark Funding
TopMark Funding, LLC, is a premier funding partner for dealerships, specializes in financing commercial vehicles, and can effectively and efficiently handle dealer transactions. Founded in 2015, the company has a proven track record of helping transportation companies expand by offering strategic funding solutions for growing small and mid-sized fleets. With a laser focus on speed, accuracy, and unmatched customer service, TopMark Funding and its dedicated team actively assist dealers in financing $12 million of commercial vehicles each month.
SOURCE TopMark Funding