Philippine-based lending fintech company OneLot raised $4M in Pre-Seed funding led by 468 Capital to extend its services and accelerate product and AI development.

Oct 14, 2024•9 months ago

Amount Raised

$4 Million

Round Type

seed

MakatiFinanceLendingFintech

Investors

Founders Launchpad21yieldCrestone Venture CapitalKaya Founders468 Capital

Description

OneLot, a Philippine-based lending fintech company, has successfully raised $4 million in Pre-Seed funding in an oversubscribed round led by 468 Capital. The funding will be used to expand services to more dealers and enhance product and artificial intelligence development.

Company Information

Company

OneLot

Location

Makati, Metro Manila, Philippines

About

OneLot is a Philippine-based lending fintech company specializing in providing working capital financing exclusively to used car dealers. Founded by a team with extensive experience in car dealership and SME credit, OneLot utilizes a data-driven, AI-enabled approach to evaluation and loan disbursement. The company aims to empower local dealerships, helping them expand their inventory and profitability. Since its launch, OneLot has made significant strides in the rapidly growing used car market in the Philippines.

Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

Philippine-based lending fintech company OneLot raised $4M in Pre-Seed funding led by 468 Capital to extend its services and accelerate product and AI development.

Investors

Description

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