OTO
India, IN · 10 known investors
OTO is India's leading platform for discovering, researching, and purchasing two-wheelers online, offering bike loans at competitive rates and facilitating both financed and outright purchases with home delivery services.
Also known as OTO Capital · otocapital.in
Founders & leadership
Investors · 10
Also in the syndicate · 4
Company profile
researched Aug 2026OTO (also referred to as OTO Capital) operates an online platform in India for discovering, researching, financing and purchasing two-wheelers, including petrol motorcycles and scooters as well as electric two-wheelers. Its core product is a two-wheeler loan proposition marketed as "Super EMI" / Flexi plans, under which monthly instalments are reduced relative to conventional bank EMIs by deferring part of the cost into an optional last instalment; at the end of the term the customer can pay the lump sum to own the vehicle, upgrade to a new vehicle, or surrender it. Loan tenures range from 12 to 48 months, interest rates are stated to start at 8.99% depending on credit profile, and downpayments typically start at about 10% of the vehicle's on-road price. The company advertises soft approval in roughly 10 minutes and loan approval within 30 minutes.
Alongside financing, OTO supports outright cash purchase of two-wheelers through partner showrooms and offers services including test rides at the customer's location, doorstep loan processing where an agent visits the customer's home to complete KYC and gather showroom quotes, and home delivery of vehicles. The platform lists more than 150 petrol and electric vehicle models from brands such as Honda, Hero, Bajaj, Suzuki, TVS, Royal Enfield, KTM, Yamaha, Ola Electric, Ather and Matter, and maintains a dedicated electric two-wheeler section. Loans are originated with more than ten lending partners, including Northern Arc, Western Capital, Trillion Loans, Grow Money, Suryoday Small Finance Bank, Ujjivan Small Finance Bank, Muffin Green Finance, UCO Bank, Indian Bank and IDFC First Bank.
Founding story
OTO Capital was co-founded by Sumit Chhazed, who serves as Co-Founder and CEO, together with Harsh, with the aim of changing how India's roughly 20 million annual two-wheeler buyers purchase, finance and resell their vehicles.
Business model
OTO acts as an online marketplace and loan origination platform for two-wheelers, sourcing customers digitally and routing loans to a panel of more than ten banks and NBFC lending partners rather than lending solely off its own balance sheet. Vehicles are sold through partner dealerships and showrooms, with OTO handling discovery, price comparison, documentation, KYC and delivery logistics. Its residual-value-based Super EMI structure creates an end-of-term decision point (pay the final lump sum, upgrade, or surrender), positioning the company in the resale/upgrade cycle as well as the original sale.
Revenue is tied to two-wheeler transactions facilitated on the platform — loan origination for partner banks and NBFCs under its Super EMI/Flexi plans, and vehicle sales made outright through partner showrooms.
Traction
As of February 2024, OTO reported cumulative loan disbursals of more than Rs 550 crore across over 75,000 two-wheelers transacted, with banks and NBFCs having committed over Rs 800 crore for the following 12 months. Its loan plan page cites more than 7,200 customer ratings and more than 150 petrol and electric vehicle models listed.
Latest developments
In February 2024 OTO was reported to have raised $10 million in a round led by GMO Venture Partners, with participation from existing investors, to fund expansion into more than 30 cities, support the transition to electric vehicles and strengthen existing partnerships.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
OTO describes itself as India's leading online platform for two-wheeler discovery, research and purchase, and its financing product as delivering EMIs up to 35% lower than banks. Reporting on its 2024 round frames the addressable market as roughly 20 million two-wheeler buyers annually in India and notes that effective management of non-performing assets had made OTO a preferred partner for several banks and NBFCs.
The Super EMI / Flexi loan structure lowers monthly instalments versus standard bank EMIs by deferring a portion into an optional final instalment and gives customers end-of-term options to buy, upgrade or surrender the vehicle at no extra cost. OTO also cites India-first service elements such as doorstep loan disbursal, test rides at the customer's location, home delivery of two-wheelers and a lowest-price guarantee.
Technology
OTO runs a consumer website and mobile app covering vehicle discovery, an EMI calculator, eligibility checks and online loan applications, with stated soft approval in about 10 minutes and full approval in 30 minutes. Coverage of its 2024 funding describes AI-driven financing and the use of AI/ML in its services.
Go-to-market
Direct-to-consumer acquisition through its website and app, supported by a doorstep model in which agents visit customers to gather showroom offers and complete KYC, home test rides and vehicle home delivery. Distribution is complemented by tie-ups with dealership networks of major two-wheeler brands including Ola, Hero MotoCorp, Royal Enfield, Ather and Suzuki, and by partnerships with banks and NBFCs that fund the loans.
Retail two-wheeler buyers in urban India seeking motorcycles, scooters or electric two-wheelers on finance or outright purchase, particularly those looking for lower monthly instalments, flexible tenures and doorstep or online purchase journeys.
Geography
Operates in more than 22 cities across India, including Delhi, Mumbai, Bangalore, Hyderabad, Kolkata, Pune, Chennai, Indore, Ahmedabad, Jaipur, Noida, Ghaziabad, Gurugram, Nagpur, Faridabad, Bhopal, Surat, Lucknow, Kanpur, Guwahati, Bhubaneswar and Vadodara. Proceeds from the 2024 round were earmarked in part for expansion to more than 30 cities.
History
Coverage of the company notes that it grew during the COVID-19 pandemic by offering digital purchase convenience and flexible financing options for two-wheeler buyers, and by February 2024 it had disbursed over Rs 550 crore in loans covering more than 75,000 vehicles and raised $10 million led by GMO Venture Partners.
Compiled by commissioned research from 5 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Competitors · 1
by search overlapCompanies competing with OTO for the same Google search keywords, organic and paid, via search-intersection analysis.
Timeline · 3
launches, deals, and filingsOTO Capital raised $10 million in a round led by GMO Venture Partners, with participation from existing investors including Turbostart, cricketer KL Rahul, Prime Venture Partners, Matrix Partners, 9Unicorns funds and family offices. Funds earmarked for expansion to 30+ cities, supporting the EV transition and strengthening partnerships.
$10M source ↗
Following its $10 million raise, OTO said it would use funds to establish a presence in over 30 cities and support the transition to electric vehicles.
OTO reported collaborations with major two-wheeler brands including Ola, Hero MotoCorp, Royal Enfield, Ather and Suzuki through their dealership networks.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 5
primary sources listed
- OTOotocapital.in · web
5 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does OTO do?
- Indian online platform for buying and financing two-wheelers, offering flexible "Super EMI" bike and scooter loans.
- Who founded OTO?
- OTO was founded by Harsh Saruparia.
- Who are OTO's investors?
- OTO's investors include 500 Global, Better Capital, GMO VenturePartners, Hyderabad Angels, Sprint Vc, Prime Venture Partners.
- Where is OTO headquartered?
- OTO is headquartered in India, IN.