TopMark Funding announced Monday it closed 2022 with 92 percent 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 says it garnered impressive numbers in Q4 2022 exceeding its Q4 2021 revenue by 25 percent.
TopMark reports it 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 percent 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,” says 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 percent. It finished ahead of its 2022 revenue goal by 22 percent while enhancing profit margins between years, the company says.
TopMark adds one of its 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 percent 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, the company says.
