OneLot Is Fueling a Used-Car Revolution in the Philippines – And Banks Are Taking Notes
OneLot provides tailored financial solutions and digital tools for used car dealerships, offering inventory loans to help dealers expand their stock and a dealership management system.
In a country where daily commutes are shaped by congestion, weather disruptions, and limited transit options, OneLot is making car ownership more accessible for everyday Filipinos–starting not with drivers, but with the dealers who supply them.
A New Kind of Fintech for a Familiar Market
Led by co-founders Harm Julian Schumacher, Subramaniam Srinivasan, and Tommy Campos, OneLot is unlocking the power of the secondhand vehicle market through inventory financing and smart technology. While traditional banks steer clear of used-car dealers, OneLot leans in—offering not just loans, but tools, data, and operational support to help family-run dealerships grow from 10 to 50 cars or more.
“We finance their own fleet in their showroom so they can grow from 20 to 30 cars,” Schumacher explained. That growth doesn’t just benefit dealers—it increases access to affordable transportation and generates more jobs across the country.
AI-Powered Pricing and a Human Approach
With over 1.5 million price points collected and 1,000+ physical inspections conducted in just a year, OneLot is using machine learning to improve how used cars are priced and evaluated. Their system considers mileage, condition, damage, and documentation—helping dealers avoid guesswork and grow sustainably.
But the technology is only part of the story. “We are not transactional,” Schumacher said. “We’re thinking about being the right long-term partner.” That mindset has fueled over $7 million in loans in just 18 months, built on trust, speed, and strong local relationships.
The Road Ahead: Expansion and Economic Impact
After closing the largest seed round in the Philippines this year, OneLot is expanding into new regions like Cebu, Ilocos, Baguio, and Davao. While car prices and dealer dynamics vary by location, the mission remains the same: empower local businesses and improve transportation access—without adding new vehicles to already crowded roads.
For banks watching from the sidelines, OneLot is proving there’s opportunity in the segments they’ve overlooked. As Schumacher puts it: “It’s a vote of confidence for OneLot… and a vote of confidence for the Philippines.”
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