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.