OTO, a digital two-wheeler commerce platform and a two-wheeler financing player, has collaborated with Suryoday Small Finance Bank for two-wheeler financing. This collaboration fosters Suryoday Bank’s access to OTO's digital commerce customer base and fortifies its two-wheeler retail portfolio.
With a target of disbursing over Rs.1000 crore in the Financial Year 2024 through its lending partners, OTO is hopeful that this partnership with Suryoday Small Finance Bank will contribute immensely for achieving this goal.
On this partnership, Sumit Chhazed, Co-founder and CEO of OTO, said, "We have enabled 75000 plus 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".
The collaboration between OTO and Suryoday Bank aims to deliver financial services and become a key player in the two-wheeler financing sector in India. Relating affordability with easy financing is a call to boost sales numbers.
Senthil Kumar, Chief Business Officer-Inclusive Finance & Wheels at Suryoday Small Finance Bank, said, Through this partnership with OTO, we hope to target and serve the young, digital-savvy, and aspiring customers from Indian households and expand our retail portfolio by providing them with quality financial services."