OTO collaborated with Suryoday Small Finance Bank for E2W financing
Bengaluru, 18th September 2023 – OTO, a pioneering digital two-wheeler commerce platform and a leading player in two-wheeler financing, proudly announces its dynamic collaboration with Suryoday Small Finance Bank, a prominent new-age bank. This strategic alliance is focused on transforming the landscape of two-wheeler financing, particularly for the underserved customer segments.
The partnership with Suryoday Bank creates an important milestone by reinforcing OTO’s commitment to leverage technology for providing seamless financial solutions. This collaboration fosters Suryoday Bank’s access to OTO’s young & digital savvy, digital commerce customer base and fortifies its two-wheeler retail portfolio.
With a robust target of disbursing over ₹ 1000 crores 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.
Mr. Sumit Chhazed, Co-Founder and CEO of OTO, expressed his enthusiasm for this strategic partnership, saying, “Financing plays a pivotal role in the decision-making process for individuals contemplating the purchase of a two-wheeler.”
Chhazed continued, “At OTO, our mission has always been to stay attuned to the evolving needs and trends within the two-wheeler market. We have enabled 75000+ customers to get 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”.
Mr. Senthil Kumar, Chief Business Officer-Inclusive Finance & Wheels at Suryoday Small Finance Bank, said, “Inclusion and empowerment lies at the heart of every business decision and strategic initiatives of Suryoday Bank. 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 the quality financial services.”
This collaboration between OTO and Suryoday Bank not only exemplifies the companies’ commitment to delivering exceptional financial services but also signifies a transformative moment in the two-wheeler financing sector in India. The partnership is poised to benefit countless individuals seeking convenient and accessible financing options for their two-wheeler dreams.
About OTO:
OTO is a forward-thinking two-wheeler digital commerce platform specializing in two-wheeler financing. With a customer-centric approach and a relentless focus on innovation, OTO is reshaping the landscape of two-wheeler ownership in India. OTO’s mission is to make the dream of owning a two-wheeler a reality for every “Bharatiya”, regardless of their financial backgrounds.
About Suryoday Small Finance Bank:
Suryoday Small Finance Bank, a new- generation Bank, endeavours to bring the best-in-class, innovative banking solutions and benefits of mainstream banking to the ‘banked’, ‘under-banked’ and the ‘un-banked’ sections of the society. Currently, Suryoday caters to its 2 million+ “smiling customers” with relentless focus on the goal of enriching lives of its customer by offering the finest ‘Customer Experience’.
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