TopMark Funding closed the third quarter of 2023 with a slight increase in the total number of funded transactions from the previous quarter and 8.6% increase of total number of year-to-date funded transactions year over year.
Building on that positive momentum, the company reported Wednesday it also celebrated its recent recognition as one of America’s fastest growing private companies by Inc. 5000. Companies on the Inc. 5000 2023 list are determined according to the business’ revenue growth from 2019 to 2022. It is the first time the organization has achieved this prestigious honor, TopMark says.
The company, which has seen transaction growth despite the economic shifts and industry-wide transportation slowdowns, knows that its biggest ongoing growth opportunity is in its Dealer Division. TopMark continues to focus resources on both technology and talent in this category, the company adds.
“While this year’s margins are experiencing a tightening due to rising interest rates and the economic realities of the day, the TopMark Funding team continues to generate results for our dealerships and truck owners,” says Evan Lang, managing director and co-founder. “Sourcing the right funding solutions for our partners is even more critical in moments like these and we’re encouraged about what the next 12-18 months holds for the industry overall.”
As TopMark sprints towards the end of this year, the company expects to hold its position in the marketplace, and it is looking at additional commercial vehicle categories that hold growth opportunities.
In addition to category expansion, the company has made some key hires in critical departments that will help set the stage for continued momentum in 2024. The company recently hired George Martin as the Director of Accounting working out of the Long Beach, California office. Martin joins TopMark Funding with a strong resume including prior experience working at Ernst & Young. He is an alum of the University of Southern California.
