OneLot raises $3.3M in record seed round to empower used car dealers across the Philippines

The used car market in the Philippines has quietly grown into a $15 billion industry—fueled by small, family-owned dealerships that keep the country’s mobility running. Yet, for years, most of these entrepreneurs have been locked out of the traditional banking system. OneLot, a Manila-based fintech startup helping used car dealers access financing and digital tools, just secured $3.3 million in seed funding—the country’s largest seed round of 2025—to change that.

The round was co-led by Accion Ventures and 468 Capital, with participation from Everywhere Ventures, Seedstars, Crestone Venture Capital, Kaya Founders, and angels such as Georg Steiger of BillEase and Jojo Malolos of PayMongo. The investment will help OneLot scale its credit platform and expand its suite of digital products for used car dealerships across the country.

Philippines Startup OneLot Secures $3.3M Seed Round, The Country’s Largest of 2025

A Market Built by Underserved Entrepreneurs

In the Philippines, about 90 percent of used car dealers operate without formal bank financing. Most rely on personal savings, informal lenders, or limited cash flow to buy inventory—creating a bottleneck in one of the region’s most active vehicle markets. Only 12 percent of Filipinos have access to formal credit, according to the 2025 World Bank Global Findex report. OneLot’s founders saw an opportunity to bridge that gap by giving independent dealerships fast, affordable access to capital.

OneLot: Building a Credit and Software Platform for Dealers

OneLot’s platform blends AI-driven underwriting with real-world vehicle appraisals. Dealers can apply for secured inventory loans and get approval within hours instead of weeks. Each vehicle is assessed on-site and cross-checked with market data to determine its resale value, allowing OneLot to make credit decisions quickly while keeping loan performance strong.

But the company isn’t stopping at financing. It’s building an end-to-end system that ties credit, software, and data together—helping dealers source vehicles, manage inventory, streamline sales, and even offer financing to their own customers. The goal: make running a small used car dealership as efficient as a modern e-commerce business.

Traction and Impact

Since launching less than two years ago, OneLot has issued more than $7 million in loans and now works with over 150 dealerships nationwide. For many of these small business owners, it’s the first time they’ve had access to institutional financing.

“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, CEO 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.”

Accion Ventures Managing Partner Rahil Rangwala said the OneLot team is unlocking a massive opportunity by empowering the family dealerships that drive the industry. “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,” Rangwala said. “With their proprietary underwriting models and deep local insight, OneLot is breaking down barriers to credit and building a financial engine for growth.”

468 Capital Partner Guilherme Steinbruch echoed that confidence. “We’ve been proud to support OneLot since the very beginning and the team’s results have been outstanding ever since,” he said. “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 plans to use the fresh capital to expand its dealer network and introduce more software and financing products for both dealerships and their retail customers. By deepening its footprint across the Philippines, the company aims to become the trusted financial partner for used car dealers—an industry long overlooked but critical to the country’s transportation ecosystem.