Commenting on the milestone, Sumit ChhajedOTO Co-Founder said, “With the increasing progress in digitization across all sectors, there has been a significant demand for online vehicle financing and ease of purchase. At OTO, we have achieved 2400 customers in the last financial year through our digital commerce platform. Serving 6200+ happy customers out of which we have seen 2.5 times growth in our books. We are already serving 2500+ a month which has increased 8 times year on year.”
“Not only have we raised capital from a variety of investors to expand our business operations into new areas, but we have also forged significant partnerships with established companies to develop our financial capabilities and supply chain models. This strategic approach has led to Has accelerated the exponential growth of the brand. Doorstep delivery of vehicles with easy financing with digital paperwork and utmost security has won the trust of our customers in our company. We have the opportunity to venture into new cities and create new strategic partnerships in the near future. There are aggressive plans to do so,” Chhajed said.
Started in 2018, OTO works on an innovative financing model for two-wheelers, where the buyer pays an upfront amount like any other finance option, but to retain, return or upgrade at the end of the tenure. Gets 30% lower EMI with the option. , The platform works in partnership with various banks and NBFCs to provide the most hassle-free financing options to its customers. It also provides complete auto lifecycle management from credit underwriting to insurance, maintenance and eventual resale of the vehicle. The company is headquartered in Bangalore, its services are also available in Hyderabad, Chennai, Pune and Mysore.
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