- OneLot raises $4M pre-seed
- Fintech empowers used car dealers
- AI-driven platform streamlines lending process
Revving Up the Used Car Market
OneLot, a Philippine fintech startup, has raised $4 million in a pre-seed round. The company aims to revolutionize the used car industry by providing accessible credit to dealers. Since its launch this year, OneLot has already disbursed over $1.3 million in loans, financing more than 200 cars.
Accelerating Growth
The funding round was led by 468 Capital, joined by Kaya Founders, Crestone Venture Capital, 21yield, Founders Launchpad, and several angel investors. OneLot’s impressive 10x revenue growth through Q2 and Q3 2024 has attracted significant investor interest.
Driving Innovation
OneLot’s platform offers quick loan approvals for dealers, with interest rates starting at 1.8% monthly.
Their AI-enabled underwriting algorithm allows for rapid capital disbursement. Beyond lending, OneLot provides a comprehensive dealership management system, offering inventory management, market insights, and marketing tools.
