TopMark Continues Growth Momentum Through Increased Number of Transactions and Has No Plans for Slowing Down in 2023
ROSEVILLE, Calif., Feb. 6, 2023 /PRNewswire/ — TopMark Funding, a premier funding destination for commercial vehicle dealerships and small to midsized fleets, closed 2022 with 92% year-over-year revenue growth while holding margins. Despite the economic headwinds and challenges in the transportation market related to both increased fuel pricing and suppressed spot rates, TopMark garnered impressive numbers in Q4 2022 exceeding its Q4 2021 revenue by 25%.
TopMark ended the year with an increased volume (Total Amount Financed) of 1.75 times year-over-year performance and the number of funded transactions was up 44% from the previous year.
“One of our goals in 2022 was to fund more volume overall while handling the transactions more efficiently for our clients. That’s exactly what we did as the team delivered 10 projection-breaking months last year,” said Managing Director and Co-Founder Evan Lang. “The TopMark team is leading the commercial vehicle funding industry and we’ve got even more in store for this upcoming year, all in service of delivering the very best funding solutions for our clients.”
In 2022, the company increased its funded volume from the previous year by over 65%. It finished ahead of its 2022 revenue goal by 22% while enhancing profit margins between years.
One of TopMark’s primary strategies for its rapid growth has continued to be grounded in focused talent expansion. The company’s best-in-class team of senior equipment finance sales professionals specializing in commercial vehicle transactions is paying off for the organization. The TopMark sales representative team has grown by 42% in experienced transaction specialists from 2021. This, along with pursuing added efficiencies through technology, will continue to be areas that the company is focused on advancing in 2023, all with the goal of helping better serve TopMark’s growing customer base and partner dealerships.
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 more than $12 million of commercial vehicles each month.
SOURCE TopMark Funding