Octane Capital founder and managing director Mark Posniak has stepped down from his role after 6 years.
Posniak founded the firm alongside Jonathan Samuels and Matt Smith in November 2016.
Posniak took to LinkedIn and said:
“After an incredible 6 years, the time has come for me to say a fond farewell to Octane Capital Ltd and my #3rdGen family!
When Jonathan Samuels, Matt Smith [and] I decided to set up Octane in November 2016, people said we were mad – the market was saturated and we were making a big mistake. Well £1.4bn lent and a £500m loan book built on the back of our #3rdgen #productless proposition would suggest that being brave and different can and often does pay off!
It has however not been plain sailing. We have seen and overcome many challenges including Brexit, COVID, The War in Ukraine, Multiple elections and Prime Ministers (3 in the last 4 months!!) & the cost of living crisis to name a few so when the opportunity came for me to sell my shares I decided to take it. I am now looking forward to some well-earned time off before deciding on my next adventure.
Before I sign off, I want to say a few thank you’s beginning with Jonathan and Matt. We have worked together for the best part of 13 years and what a 13 years they have been. I am really proud of what we have built both at Dragonfly and now at Octane and am certain that the two of you will continue to smash it in 2023 and beyond.”
Posniak did not announce a new role at this time.
