OTO Capital, a car leasing finance company, has raised seed funding of Rs. 5 crore, led by incubator Venture Catalyst. Among other investors who participated in the round were veteran angel investors K Ganesh and Sameer Sawhney.
Founded by IIT-Bombay alumnus Sumit Chhazed, along with Harsh Saruparia, OTO Capital launched operations in October. It provides easy finance options for buyers looking to lease a car for the long term; it also allows them to sell and upgrade them in a hassle-free manner. The start-up is also planning to offer insurance products soon.
