Philippine auto financing company Finsso Finance Corporation, the lending arm of CarDekho SEA, has secured a strategic investment from TENCO Capital Holdings Corporation. The announcement, made on October 20, 2026, also included a separate loan referral agreement with Bank of Makati to support used-car buyers and dealers. The companies did not disclose the investment amount, valuation, or other terms.
Strategic Investment and Loan Referral
The investment remains subject to customary closing conditions and regulatory approvals. TENCO Capital Holdings Corporation is a Philippine corporate venture capital firm that specializes in early-stage investments and has now acquired a stake in Finsso Finance Corporation. Finsso was founded in 2024 as the direct lending arm of CarDekho SEA, which operates the Carmudi, ZigWheels, and OTO auto marketplaces in the Philippines and Indonesia.
Financing Products and Growth Plans
Finsso has originated around US$50 million in auto loans since its launch, all secured by vehicle collateral. The company works with more than 300 dealers drawn from a network of around 1,200 dealers registered on Carmudi Philippines. Its current product suite includes used-car purchase financing, vehicle refinancing through the Sangla ORCR scheme, and short-term dealer stock financing.
The new investment will help Finsso diversify its auto financing portfolio across multiple categories of vehicle ownership. The company also plans to grow its sales channels and continue investing in technology and risk management. Umesh Hora, co-founder and president of CarDekho SEA and chief executive of Finsso, said the capital would support loan originations across more financing categories and strengthen its sales channels.
Hora added that the loan referral agreement with Bank of Makati would give buyers and dealers on the platforms access to another source of financing. The agreement is designed to support eligible used-car buyers and dealers across the Philippines and Indonesia. It also positions Finsso to integrate bank referrals directly into the vehicle purchasing experience through existing marketplace portals.
Bank of Makati Partnership
The separate loan referral agreement with Bank of Makati will allow eligible used-car buyers and dealers from CarDekho SEA marketplaces to be referred to the bank for financing. This arrangement provides the bank with a pipeline of potential borrowers while giving platform users an additional financing source. Bank of Makati, established in 1956, is a thrift bank serving retail customers and micro, small, and medium-sized enterprises.
Luis M. Chua, president of Bank of Makati, said the partnership would help the bank reach more used-car buyers and dealers through Finsso's marketplace. The collaboration is expected to integrate bank referrals directly into the vehicle purchasing experience, potentially reducing the time spent securing loans. Consumers and dealers may benefit from more streamlined access to credit and financing options through existing marketplace portals.
Marketplace and Industry Impact
CarDekho SEA is a Singapore-headquartered automotive marketplace and financing platform operating in Southeast Asia. It is part of India's CarDekho Group, a leading auto-tech company with entities such as CarDekho, Gaadi, ZigWheels, Powerdrift, BikeDekho, and OTO.com. This deal illustrates the growing consolidation and vertical integration within the Southeast Asian automotive sector as marketplaces become fintech-enabled platforms.
The partnership between Finsso, TENCO Capital Holdings Corporation, and Bank of Makati reflects a hybrid model that combines digital marketplace reach with traditional banking resources. Once closing conditions and regulatory approvals are met, the investment is expected to support broader auto financing activity in the Philippines and Indonesia. The announcement positions Finsso to compete more aggressively by pairing marketplace access with institutional credit capacity.
Source: Dealstreetasia