CarDekho SEA's lending arm Finsso raises early-stage round from TENCO
What's the deal? Finsso Finance Corporation, the Philippine lending arm of CarDekho SEA, has secured a strategic early-stage investment from TENCO Capital Holdings Corporation, announced on October 20, 2026. The companies did not disclose the amount, valuation, or terms, and the deal remains subject to closing conditions and regulatory approvals.
What's the endgame? Finsso plans to diversify its auto financing portfolio across more vehicle-ownership categories while expanding sales channels and investing in technology and risk management.
Founded in 2024, Finsso is the direct lending arm of CarDekho SEA, which runs the Carmudi, ZigWheelsDealroom has a profile for this one. Try Dealroom →, and OTO marketplaces in the Philippines and Indonesia. It has originated around $50 million in auto loans since launch, all secured by vehicle collateral, and works with more than 300 dealers drawn from a network of around 1,200 registered on Carmudi Philippines.
The company offers used-car purchase financing, vehicle refinancing through the Philippines' Sangla ORCR scheme, and short-term dealer stock financing.
What else? Finsso also signed a loan referral agreement with Bank of Makati (BMI), a thrift bank established in 1956. It will refer eligible used-car buyers and dealers from CarDekho SEA's marketplaces to the bank, giving the lender a borrower pipeline and the platforms an added financing source.
"With this capital, we will grow our originations across more categories of auto financing, strengthen our sales channels and keep investing in technology and risk management," said Umesh Hora, co-founder and president of CarDekho SEA and chief executive of Finsso.
Why it matters: The round extends CarDekho SEA's funding momentum. In December 2024, the regional business raised $60 million from Navis Capital PartnersDealroom has a profile for this one. Try Dealroom → and Dragon Fund, pushing total funding above $100 million to expand used-vehicle financing in Indonesia and the Philippines.
The signal: Used-car finance is growing as digital lenders target borrowers underserved by traditional channels. But without disclosed terms, it is hard to judge the deal's scale — and established banks and finance companies remain formidable competitors.
Read more: dealstreetasia.com
Image credit: Generated with Gemini
