OneLot, a fintech lending company, has raised $4 million in pre-seed funding in an oversubscribed round led by 468 Capital. Other participants include Kaya Founders, Crestone Venture Capital, 21yield, Founders Launchpad, and notable angel investors.
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OneLot is on a mission to empower used car dealers in the Philippines. Its goal is to help grow their businesses through our unique and tailored solutions designed specifically for the used car industry.
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OneLot understands the challenges and opportunities in this market and is dedicated to providing the support and tools dealers need to thrive. OneLot facilitates the growth of used car dealers through two core offerings:
Dealer Inventory Loans
Enable dealers to purchase more vehicles by providing tailored working capital loan solutions. These financial resources give dealers the flexibility to expand their inventory, cater to a wider customer base, and ultimately boost their profitability.
Dealership Management System
Its digital dealer platform is a comprehensive solution that streamlines the buying and selling process for dealers. It includes robust inventory management and marketing solutions, making it easier to showcase and sell vehicles efficiently. Our platform is designed to save dealers time, reduce operational costs, and enhance their overall business performance.
“The company plans to use the latest funding to extend its services to more dealers as well as accelerate product and artificial intelligence (AI) development,” said Tommy Campos, Chief Operating Officer of OneLot.
“I experienced firsthand how German financial institutions supported family-run dealerships like ours with a variety of loan solutions throughout the value chain, enabling them to accelerate their growth.” Co-founder and Chief Executive Officer Harm-Julian Schumacher noted, adding that Germany is a market feature that inspired the OneLot model to empower similar businesses in the Philippines.
“The team combines in-depth knowledge about car dealerships and small and medium-sized enterprise (SME) credit in the Philippines with decades of experience building digital products and AI,” noted Guilherme Steinbruch, Partner at 468 Capital.
About OneLot
Founded in 2023 by Harm-Julian Schumacher, Tommy Campos, and Subramaniam Srinivasan, OneLot specializes in offering working capital financing exclusively to used car dealers. The company’s innovative approach allows dealers to access funding based on a pre-approved credit line, determined by a data-driven and AI-enabled assessment of their business. This financial support enables dealers to expand their inventory, cater to a broader customer base, and boost their profitability.
