About Otto Pay
Otto Pay is a company based in Los Angeles (United States) founded in 2020 was acquired by J.G. Wentworth in June 2024. Otto Pay has raised $4.5 million across 1 funding round from investors including Canaan, J.G. Wentworth and Kindred Ventures. The company has 2 employees as of December 31, 2022. Otto Pay operates in a competitive market with competitors including Klarna, Afterpay, Zip, Sunbit and Snap Finance, among others.
- Headquarter Los Angeles, United States
- Employees 2 as on 31 Dec, 2022
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Sectors
Financial Services
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Email
Locked
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Phone
Locked
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Website
Locked
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Social
Locked
- Legal Name New Foundation Labs, Inc.
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Annual Revenue
Not available
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Net Profit
Not available
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EBITDA
Not available
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Total Equity Funding
$4.5 M (USD)
in 1 rounds
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Latest Funding Round
$4.5 M (USD), Series A
Nov 13, 2023
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Investors
Canaan
& 4 more
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Employee Count
2
as on Dec 31, 2022
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Acquired by
J.G. Wentworth
(Jun 20, 2024)
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Funding Insights of Otto Pay
Otto Pay has successfully raised a total of $4.5M through 1 strategic funding round. The most recent funding activity was a Series A round of $4.5 million completed in November 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in Otto Pay
Otto Pay has secured backing from 5 investors, including venture fund investors. Prominent investors backing the company include Canaan, J.G. Wentworth and Kindred Ventures.
| Investor | Description | Founded Year | Domain | Location |
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Seed-stage investments in multiple sectors are made by Kindred Ventures.
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US focused seed and early-stage VC firm
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Canaan is recognized as an early-stage venture capital firm.
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Investor details for Otto Pay
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Investments & Acquisitions by Otto Pay
Investment portfolio details for Otto Pay
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Financial Statements - Otto Pay
Detailed financials for Otto Pay
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Otto Pay Comparisons
Peer comparison for Otto Pay
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- Named peers
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Competitors of Otto Pay
Otto Pay operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Klarna, Afterpay, Zip, Sunbit and Snap Finance, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Point-of-sale financing is facilitated through an online platform for purchases.
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A buy now pay later service is offered by Afterpay.
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Payment solutions are provided for deferred purchasing by Zip.
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Point-of-sale financing is facilitated via an online platform for retailers.
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Merchandise financing is offered through partner stores.
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Point-of-sale financing for travel bookings is offered by Uplift.
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Detailed competitors of Otto Pay
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Latest news on Otto Pay
Complete news archive for Otto Pay
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Frequently Asked Questions about Otto Pay
Otto Pay was founded in 2020 and raised its 1st funding round 3 years after it was founded.
Otto Pay is headquartered in Los Angeles, United States. It is registered at Los Angeles, California, United States.
Otto Pay is a funded company, having raised a total of $4.5M across 1 funding round to date.
As of Dec 31, 2022, the latest employee count at Otto Pay is 2.
Otto was founded in 2020 in Los Angeles, United States, within the fintech sector. An online platform is operated to enable point-of-sale financing for monthly bills and recurring subscriptions. Flexible repayment options are provided to users, alongside multiple virtual cards, trials with auto-expiring plans, and real-time payment alerts. Operations focus on streamlining subscription-based financing in the U.S. market.
Otto Pay has 5 investors. Key investors include Canaan, J.G. Wentworth, Kindred Ventures, 645 Ventures, and Twelve Below.