OneLot secures $3.3M — largest seed round in PH for used car dealers

Insider Spotlight

• Who: OneLot, a financing platform for used car dealers in the Philippines
• What: Raised $3.3 million in seed funding, the largest seed round in the Philippines for 2025
• Why: To expand affordable financing and digital tools for independent used car dealerships
• Investors: Co-led by Accion Ventures and 468 Capital, with participation from Everywhere Ventures, Seedstars, Crestone Venture Capital, Kaya Founders, and notable angels
• Impact: Over $7 million in loans issued, supporting more than 150 dealers in 1.5 years

OneLot, the Philippines’ leading financing platform for used car dealers, has successfully closed a $3.3-million seed funding round. This marks the largest seed round in the country for 2025, aimed at bolstering the platform's capacity to provide accessible financing and digital solutions to independent dealerships in the rapidly expanding used car market.

Driving the market

The Philippines’ used-car industry, valued at $15 billion, is largely made up of family-owned dealerships that have long struggled to secure financing from traditional banks.

With nearly 90 percent of these dealers lacking reliable bank support and only 12 percent of Filipinos having access to formal loans, OneLot is addressing a significant credit gap. Their mission is to dismantle capital barriers, offering affordable capital to empower dealers to increase their inventory and sales.

The OneLot edge

OneLot's platform leverages AI-driven underwriting and on-the-ground vehicle appraisal to disburse secured inventory loans within hours. This innovative approach allows for quick vehicle evaluations, accurate market pricing, and real-time credit decisions, leading to faster approvals, higher credit limits, and competitive rates while maintaining robust risk controls. 

Beyond financing, OneLot is developing an end-to-end platform that integrates credit, software, and data to support dealers across the entire value chain, from sourcing vehicles to managing inventory and streamlining sales, ultimately enhancing customer satisfaction and retention.

Words from the leaders

Harm-Julian Schumacher, CEO and co-founder of OneLot, stated, “With this new funding round, we’re doubling down on our mission to become the leading financing platform for used car dealers. 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.”

Rahil Rangwala, managing partner of Accion Ventures, commented, “Julian, Tommy, and Subramaniam are 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..”

Guilherme Steinbruch, partner at 468, added, “We’ve been proud to support OneLot since the very beginning and the team’s results have been outstanding ever since. There’s still tremendous room for growth, and we’re excited to continue backing them as they build the end-to-end financing platform for used car dealers.”

The road ahead

OneLot is committed to accelerating its growth within the Philippine used car dealership market. The company plans to expand its dealer network, extend more credit to existing partners, and broaden its product offerings with new software tools and financing solutions that support dealers from sourcing to sales.

These initiatives are designed to solidify OneLot’s position as the trusted partner for used car dealers nationwide.  —Daxim L. Lucas | Ed: Corrie S. Narisma