OneLot, the Philippines’ financing platform for used car dealers, has raised $3.3 million in seed funding to expand affordable financing and digital tools for independent dealerships.
The firm said in a statement on Tuesday that the round was co-led by Accion Ventures and 468 Capital, with new participation from Everywhere Ventures and Seedstars, and continued backing from Crestone Venture Capital, Kaya Founders, and notable angels, including Georg Steiger (BillEase) and Jojo Malolos (Paymongo).
The fresh capital will accelerate OneLot’s mission to empower used car entrepreneurs with faster access to credit, AI-driven underwriting, and technology solutions that
help them grow their businesses.
OneLot is focused on accelerating growth across the used car dealership market in the Philippines.
The company will continue expanding its dealer network, extending more credit to existing partners, and broadening its product suite with new software tools and financing
solutions that support dealers from sourcing to sales.
Together, these initiatives will further strengthen the firm’s position as the trusted partner for used car dealers nationwide.
“With this new funding round, we’re doubling down on our mission to become the leading financing platform for used car dealers,” said Harm-Julian Schumacher, Chief Executive Officer and Co-Founder of OneLot.
“We’re thrilled to welcome Accion Ventures on board—bringing deep global expertise in fintech and lending that will help us scale smarter and faster,
“Together with 468 Capital and the continued support of both new and existing investors, this is a strong vote of confidence in our vision, our momentum, and the opportunity ahead,” he added.
It is noted that the Philippines’ rapidly growing $15 billion used car industry is dominated by family-owned dealerships that have shown remarkable resilience as banks and traditional lenders continue to underserve them.
Nearly 90 percent of used car dealers in the Philippines remain without reliable bank financing, reflecting a broader credit gap in which only 12 percent of Filipinos have access to formal loans, according to the 2025 World Bank Global Findex report.
OneLot, therefore, aims to remove capital barriers, provide access to affordable capital, and enable dealers to buy and sell more cars.
The firm combines artificial intelligence (AI)-driven underwriting with on-the-ground vehicle appraisal to issue secured inventory loans within hours.
The platform quickly evaluates each vehicle, determines market prices, and makes real-time credit decisions—enabling faster approvals, higher credit limits, and competitive rates while maintaining strong risk controls and high loan profitability.
Beyond inventory financing, the firm is building an end-to-end platform that integrates credit, software, and data to empower dealers across the entire value chain.
The platform helps dealers source vehicles, manage inventory, and streamline sales, while also offering financial solutions for their retail customers all within a single platform that drives customer satisfaction and long-term retention.
The firm is already delivering measurable results.
In just one and a half years of operations, the company has issued more than $7 million in loans and now supports over 150 dealers on its platform.
“The team is unlocking a massive opportunity in the $15 billion used car market in the Philippines by empowering the family dealerships who drive it,
“With their proprietary underwriting models and deep local insight, OneLot is breaking down barriers to credit and building a financial engine for growth,” said Rahil Rangwala, Managing Partner of Accion Ventures.
Guilherme Steinbruch, Partner 468, said the firm continues backing OneLot as it builds the end-to-end financing platform for used car dealers.
For him, there’s still tremendous room for growth for the firm.