TopMark Funding recently produced another record-breaking quarter and is leading the year with a 29.2 percent gain against its first quarter revenue goals.
The company, which closed 2021 with an increased volume (Total Amount Financed) of 2.3 times year over year performance, is confident that the organization is likely to meet or exceed its performance benchmarks in 2022.
As of now, TopMark Funding says it has set an aggressive annual origination growth target of 57 percent and is presently out pacing that with Q1 2022 coming in 27 percent above its annualized 2022 target and is at 268 percent of Q1 2021's actual performance.
In the first three months of the year, TopMark says it funded a company record of $34.7 million in volume, marking a 242 percent year-over-year increase from Q1 2021. March fundings of $15.4 million put the company on an annualized run rate of $185 million. The company reported record earnings which exceeded forecast by a factor of 2.5. TopMark continues to focus its primary growth within the dealership marketplace by designing proprietary technology uniquely created for the category-specific funding needs, the company says.
"Each quarter that we continue to see record-breaking growth affirms that our senior sales talent, operational structure and leadership, and our investment in technology are working," says Managing Partner and Co-Founder Evan Lang. "The marketplace continues to see unprecedented challenges but the commitment of the TopMark team is laying the relationship foundation with dealerships across the country and is a critical piece of the company's continuing growth."
TopMark Funding says it expects growth for the remainder of 2022 despite any economic challenges in the trucking marketplace. The organization's approach to curating a top-notch operational process, and a highly skilled sales team with the ability to work remote will continue to be a lynchpin for the company. To meet growing demand, the company expects to add more than 60 percent to its senior sales team by the end of the year with industry talent who are career oriented and eager to join a company whose focus is on creating opportunities for success, the company adds.