Total amount raised
$20.3 Million
Latest funding date
05/01/2024
Location
OTO Capital has successfully navigated 9 funding rounds, attracting a diverse group of 30 investors, including notable names like BlackSoil and GMO VenturePartners. The platform specializes in providing affordable plans for purchasing motor bicycles, offering services such as bike and scooter loans, fast loan approval, and flexible loan plans.
OTO Capital's innovative approach to digital commerce and lending has made it a key player in the Indian market for two-wheeler purchases. Keep reading to explore the intricacies of OTO Capital's fundraising journey and the investors backing this dynamic platform.
What Is OTO Capital?
OTO Capital is a digital commerce and lending platform based in Mumbai, Maharashtra, India. The company operates in the automotive, finance, financial services, and lending industries, providing affordable plans for purchasing motor bicycles.
With an employee count ranging from 251 to 500, OTO Capital has established itself as a key player in the Indian market. The platform offers fast loan approval, flexible loan plans, and the ability to upgrade anytime, serving customers in over 22 cities across India.
How Much Funding Has OTO Capital Raised?
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: September 1, 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure initial capital for operational expenses and early-stage growth.
- Seed
- Amount Raised: INR 50,000,000
- Date: December 10, 2018
- Lead Investors: Venture Catalysts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the platform and expand initial market reach.
- Seed
- Amount Raised: INR 100,000,000
- Date: September 5, 2019
- Lead Investors: Prime Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Seed
- Amount Raised: Not publicly disclosed
- Date: December 8, 2020
- Lead Investors: Venture Catalysts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and improve customer acquisition strategies.
- Series A
- Amount Raised: USD 6,000,000
- Date: August 31, 2021
- Lead Investors: Z47
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological infrastructure and expand into new cities.
- Debt Financing
- Amount Raised: INR 60,000,000
- Date: August 12, 2022
- Lead Investors: Stride Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operational costs and further market expansion.
- Series A
- Amount Raised: Not publicly disclosed
- Date: January 1, 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance service offerings.
- Series Unknown
- Amount Raised: USD 10,000,000
- Date: February 6, 2024
- Lead Investors: GMO VenturePartners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand to over 30 cities and support the transition to electric vehicles.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: May 6, 2024
- Lead Investors: BlackSoil
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional capital for scaling operations and enhancing financial services.
Total Amount Raised: USD 16,000,000
Current Valuation: Not publicly disclosed
Key Investors
- BlackSoil
- Details: BlackSoil is a prominent debt financing firm that has been a lead investor in multiple funding rounds for OTO Capital.
- Investment Focus Areas: Debt financing, financial services, lending.
- Notable Investments: Multiple debt financing rounds for OTO Capital.
- GMO VenturePartners
- Details: GMO VenturePartners is a Japanese venture capital firm that led a $10 million funding round for OTO Capital.
- Investment Focus Areas: Technology, innovation, digital commerce.
- Notable Investments: Not publicly disclosed.
- Prime Venture Partners
- Details: Prime Venture Partners is an early-stage venture capital firm that has been an existing investor in OTO Capital.
- Investment Focus Areas: Early-stage technology startups, financial services, digital commerce.
- Notable Investments: Not publicly disclosed.
- Matrix Partners
- Details: Matrix Partners is a venture capital firm focusing on early and growth-stage companies, and is an existing investor in OTO Capital.
- Investment Focus Areas: Technology, consumer sectors, early-stage investments.
- Notable Investments: Not publicly disclosed.
- 9Unicorns
- Details: 9Unicorns is an accelerator fund that focuses on early-stage startups and has been an existing investor in OTO Capital.
- Investment Focus Areas: Early-stage startups, technology, innovation.
- Notable Investments: Not publicly disclosed.
What's Next for OTO Capital?
OTO Capital stands at the cusp of significant growth opportunities, driven by its plans to expand into over 30 cities and lead the transition to electric vehicles. With a successful $10 million funding round, the company is well-positioned to capitalize on the increasing demand for flexible financing options and digital-first vehicle purchasing experiences. Strengthening existing partnerships with major two-wheeler brands and financial institutions will be crucial in this expansion phase.
Future fundraising opportunities appear promising, as OTO's strategic goals align with industry trends favoring electric vehicles and digital commerce. The company's ability to attract substantial commitments from banks and NBFCs underscores its potential to secure additional investments. However, challenges such as managing rapid expansion, navigating regulatory landscapes, and maintaining customer satisfaction in a competitive market will require careful planning and execution.
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