OTO, a digital commerce and financing platform for two-wheelers, raises $10 million

OTO, a digital commerce and financing platform for two-wheelers, has raised $10 million in a funding round led by GMO Venture Partners.

The funding will be used to expand OTO's operational footprint to over 30 cities, support the transition to electric vehicles, and strengthen existing partnerships.

OTO aims to make two-wheeler ownership convenient, affordable, and accessible, with a focus on the two-wheeler EV sector.

The startup offers a Super EMI plan that reduces two-wheeler EMIs by up to 30% and provides customers with the flexibility to upgrade or retain their vehicles at the end of the term.

OTO has sold over 75,000 two-wheelers and disbursed loans exceeding ₹550 crore to date.

The company has established partnerships with major two-wheeler brands like Ola, Hero Motocorp, Royal Enfield, Ather, and Suzuki.

Investors believe that OTO's innovative approach has the potential to redefine the global two-wheeler industry and create value for customers and investors.

OTO's adept management of non-performing assets has gained the trust of banks and NBFCs, with commitments of over ₹800 crore for the upcoming year.