OTO partners with Suryoday Small Finance Bank for two-wheeler financing

The company aims to accomplish its target of disbursing over Rs 1,000 crores in FY24 through its lending partners.

Autocar Pro News Desk By Autocar Pro News Desk calendar 22 Sep 2023 Views icon2286 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
OTO partners with Suryoday Small Finance Bank for two-wheeler financing

OTO, a two-wheeler e-commerce and financing platform, has announced its collaboration with Suryoday Small Finance Bank, a prominent new-age bank to transform the landscape of two-wheeler financing, particularly for the under-served customer segments.

The partnership with Suryoday Bank creates an important milestone by reinforcing OTO’s commitment to leverage technology for providing seamless financial solutions. This collaboration fosters Suryoday Bank’s access to OTO's young and digital savvy, digital commerce customer base and fortifies its two-wheeler retail portfolio.

With a target of disbursing over Rs 1,000 crores in FY24 through its lending partners, the company is hopeful that the partnership will contribute immensely for achieving this goal.

Sumit Chhazed, co-founder and CEO of OTO, speaking on the partnership said, "Financing plays a pivotal role in the decision-making process for individuals contemplating the purchase of a two-wheeler.”

"We have enabled 75000+ customers in getting their dream two-wheeler and as we continue scaling 3x y-o-y, partners like Suryoday Bank allow us to cater to the growing needs of our customers through affordable financing options,” he further added.

RELATED ARTICLES
Audi of America, Verizon join forces to bring 5G to vehicle lineup

auther Autocar Pro News Desk calendar23 Feb 2024

The integration of embedded 5G Ultra Wideband connectivity into Audi vehicles will facilitate advanced driving features,...

Suzuki Motorcycle India produces 1 million units within FY23-24

auther Autocar Pro News Desk calendar23 Feb 2024

Suzuki Access became the 1 millionth unit that was rolled out from the company's Kherki Dhaula plant in Gurugram.

Kia recalls Seltos petrol-CVT, 4,358 units impacted

auther Autocar Pro News Desk calendar23 Feb 2024

The company says it is proactively reaching out to customers and replacing the electronic oil pump controller in the aff...