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Business · Vancouver

Vancouver fintech OCAL passes 1,250 funded vehicle deals in B.C. and Alberta

The TSXV-listed company starts with financing approval, then sources the car from auctions and partner dealers.

By West Coast News staff ·
Traffic on Highway 1 in Burnaby
Traffic on Highway 1 in Burnaby.

Vancouver-based OCAL Financial said it has funded more than 1,250 vehicle deals across British Columbia and Alberta, Techcouver reported on Tuesday.

"More than twelve hundred and fifty funded deals is proof the model works in the real world, not just on a slide," said CEO Mehdi Moghareh, adding that nearly 18 per cent of deals come from repeat or referred customers.

The TSXV-listed company does not carry inventory. Its online process starts with financing approval, then searches national auctions and partner dealers for a vehicle, followed by digital contracting and delivery. OCAL earns revenue from vehicle sales and finance and protection products, and does not hold consumer loans or assume credit-default risk, according to the report.

Its technology includes workflow orchestration, a lender-routing credit tool and voice AI.

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