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OTO Funding: Responding to evolving consumer demands, OTO introduced its Super EMI plan, reducing two-wheeler EMIs by up to 30% while granting customers the flexibility to upgrade or retain their vehicles at the end of the term.
OTO will use the funds raised to scale up its operations from 10 cities to 25 in the next 18 months, while increasing the number of vehicle bookings it facilitates from 5,000 per month to 15,000 per month, chief executive and cofounder Sumit Chhazed said.
Two-wheeler financing startup Oto, content commerce platform Wishlink, senior citizen care platform Khyaal, ride-sharing application Advance Mobility and adtech startup Adster secured early-stage funding, the companies ......
Oto And Ather JV: This partnership will change the realm of two-wheeler ownership, especially for the generally overlooked premium customer segments. Now they have the opportunity to access seamless financing options at their doorstep for acquiring electric vehicles, the companies said.
Despite the government’s push for electric vehicles, banks are reluctant to venture into the EV space due to issues like their resale value. But startups seem to have cracked underwriting EV loans.