Philippines
Finsso Secures TENCO Capital Investment, Partners with Bank of Makati to Expand Auto Financing: Finsso Finance Corporation, the auto financing arm of CarDekho Southeast Asia (SEA), has secured a strategic investment from TENCO Capital Holdings Corporation and signed a loan referral cooperation agreement with Bank of Makati to expand vehicle financing opportunities for Filipino car buyers and dealers.
Founded in 2024, Finsso has originated approximately $50 million in auto loans. The company offers used-car purchase financing, vehicle refinancing through Sangla ORCR, and short-term dealer stock financing.
Umesh Hora, Co-founder and President of CarDekho SEA and CEO of Finsso, said the investment validates the company’s marketplace-led lending model and will help it build a broader automotive financing ecosystem.
The investment will support Finsso’s expansion into additional automotive financing categories, strengthen its sales channels, and fund continued investments in technology, underwriting and risk management. The investment’s financial terms were not disclosed and remain subject to customary closing conditions and regulatory approvals.
Separately, under its agreement with Bank of Makati, Finsso will refer eligible used-car buyers and dealers from CarDekho SEA’s marketplaces to the bank, providing customers with an additional potential source of financing.
Luis M. Chua, President of Bank of Makati, said the partnership would help the bank reach more used-car buyers and dealers while improving access to financial services.
The agreements were signed on October 5, with a ceremonial signing held on October 14, 2026, in Makati City. Steward Capital Philippines served as Finsso’s exclusive financial adviser.
Finsso is part of the CarDekho Group through CarDekho SEA, which operates the Carmudi, ZigWheels and OTO automotive marketplaces in the Philippines and Indonesia.
