Digital two-wheeler commerce and two-wheeler financing platform OTO has partnered with new-age bank Suryoday Small Finance Bank to focus on two-wheeler financing, especially for underserved customer segments.
OTO has set an ambitious target to disburse over Rs 1,000 crore through its lending partners in FY24 and expects this partnership to contribute significantly to achieving this milestone.
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As part of this partnership, Suryoday Bank gains access to OTO’s extensive digital commerce customer base, thereby strengthening its presence in the two-wheeler retail financing space.
Sumit Chhazed, co-founder and CEO, OTO, said that for individuals considering buying a two-wheeler, financing plays a key role in the decision-making process.
“We have helped over 75,000 customers acquire their two-wheelers, and as we continue to scale at 3x year-on-year, partners like Suryoday Bank enable us to cater to our growing customer base with affordable financing options needs,” he added.
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Senthil Kumar, Chief Business Officer, Financial Inclusion and Wheels, Suryoday Small Finance Bank said, “Through this partnership with OTO, we hope to target and serve young, digitally savvy and aspirational Indian household customers and expand our retail product portfolio for them Providing quality financial services.”
