OTOMOTO Pay – a new way to finance car purchases in Poland


OTOMOTO Pay (Poland), a solution for financing car purchases, is launched, fully integrated with the platform connecting sellers and buyers OTOMOTO. The tool allows its customers to instantly obtain financing for the purchase of a car or other vehicle after prior verification of the offers of 18 banks and other financial institutions and matching the proposals to the user’s needs based on the author’s creditworthiness assessment tool. OTOMOTO Pay also allows them to verify the history of vehicles the purchase of which the applicant is considering and to include insurance and a one-year warranty for unforeseen repairs in the loan or leasing installment.

Carsmile is responsible for creating the fintech technology and handling the process, which has been piloting the project since April 2022. So far, the customers have received financing of a total value of almost PLN 100 million. The plans for next year include the launch of PLN 300 million in funding, as well as acquiring new partners and deepening cooperation with existing cooperating institutions. Carsmile is an e-platform dealing with long-term subscription car rentals, belonging to the OLX Group.

A wide range of 18 financial entities and a minimum of formalities

OTOMOTO Pay gives its customers a wide range of financing options from 18 financial institutions, including banks e.g. PKO Leasing, BNP Paribas, Alior Bank, Alior Leasing, Santander Consumer Financial Solutions, Santander Consumer Multirent, Raiffeisen, Cofidis, Inbank, Arval and Brutto.pl. Some of the entities cooperating with the platform have already prepared individualized solutions for the customers. The tool, by analyzing the situation of the applicant, the declared amount of own contribution, and the value and age of the car in which the customer is interested, will match and recommend the best loan or leasing offer and will allow him/her to apply for financing to one selected institution from the website level.

Source: LinkedIn

OTOMOTO Pay will maximally simplify the procedure of obtaining a loan from reliable and proven financial entities, will avoid information noise and numerous conversations with consultants proposing many different, often complicated solutions, and will ensure that the proposed loan or leasing conditions will be the most favorable for the customer in the current situation,” says Łukasz Domański, CEO at Carsmile.

Before selecting and matching the offer to the user, the tool will automatically check the creditworthiness of the applicant, without affecting the value of his scoring in the Credit Information Bureau. After the user applies directly from the otomotopay.pl website, the money will be loaned to his/her account even within several minutes the time depends on the activity of the entity to which the application will be sent.

The vehicle’s technical condition reports

As part of the service, the customer will be able to generate three vehicle history reports prepared by autoDNA. The decision to buy a specific model can be made even after the funds have been allocated to finance the car.

Access to funds for the purchase of a car before the final decision to make a transaction meets the needs of users. 47% of Poles declare that they consider the issue of budget and car financing first before choosing a specific brand and model, and another 37% simultaneously determine the financing and brand of the vehicle before making a purchase decision, according to a survey conducted for OTOMOTO by Minds & Roses in December 2022 year.

Insurance and one-year warranty on repairs

The customers using financing via OTOMOTO Pay will additionally be able to include car insurance in the installment of the loan or leasing. The tool will recommend the most advantageous third-party liability insurance (OC)/comprehensive motor insurance (AC), selected from the proposals of 15 insurance companies cooperating with the Punkta comparison engine. An additional option is to sew a one-year warranty for unforeseen repairs in installments, carried out under the car manufacturer’s guidelines, provided by Defend Insurance.

Scan&Buy a car fintech is also for offline purchases

Soon after the launch of the solution, the users will gain access to a complementary car fintech tool: Scan&Buy. The solution, based on a scan of the vehicle registration plate or the QR code in the registration document, will determine the market price of the car and automatically offer the user the possibility of financing it with OTOMOTO Pay. Scan&Buy will expand the possibilities of financing, allowing its use also when buying without the intermediation of the OTOMOTO platform.

OTOMOTO Pay is the first embedded finance tool on an automotive-related platform in the European Union. There are only a few similar solutions in the world for automotive services. Integration with OTOMOTO will enable its customers to obtain financing not only for the purchase of cars but also motorcycles, agricultural and heavy machinery available on the platform. Obtaining financing will be possible when purchasing vehicles both from individual sellers and small dealers who don`t cooperate with any financial entity, as well as by larger sellers who list their offers on the OTOMOTO platform.

Until March 31, 2023, OTOMOTO Pay will be available randomly on 50% of OTOMOTO listings. Until then, financing will be available to everyone via the otomotopay.pl website. After a transitional period, from April 2023, all users will be able to use OTOMOTO Pay also from the OTOMOTO platform.


OTOMOTO is a platform belonging to the OLX Group, gathering around itself an ecosystem of tools supporting the purchase and sale of passenger cars and vans, as well as heavy vehicles and agricultural machinery as well as automotive parts. OTOMOTO‘s offer includes, among others: financing, the ability to verify the history of the car, and tools estimating the price of vehicles. Buyers’ questions are answered by a customer service team operating 365 days a year, while sellers can count on the support of a dedicated telephone or field account manager. The brand is also associated with Carsmile, which is the largest online subscription car platform in Poland, Otomoto Klik, where you can buy cars after a detailed inspection, equipped with a Digital Vehicle Passport, as well as 3-2-1 SPRZEDANE!, where you can quickly price and sell the car. Every month, OTOMOTO is used by about 6 million Internet users who generate over 153 million page views (Gemius data).


Source: The press release by OTOMOTO dated December 13, 2022