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
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name New Foundation Labs, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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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.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Series A — $4.5M
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First Round
First Round
(13 Nov 2023)
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2023 | Amount | Series A - Otto Pay | Valuation | Kindred Ventures , 645 Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| 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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Founded Year | Domain | Location | |
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US focused seed and early-stage VC firm
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Founded Year | Domain | Location | |
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Canaan is recognized as an early-stage venture capital firm.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Otto Pay
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Otto Pay
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Otto Pay Comparisons
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. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Point-of-sale financing is facilitated through an online platform for purchases.
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| domain | founded_year | HQ Location |
A buy now pay later service is offered by Afterpay.
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| domain | founded_year | HQ Location |
Payment solutions are provided for deferred purchasing by Zip.
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| domain | founded_year | HQ Location |
Point-of-sale financing is facilitated via an online platform for retailers.
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| domain | founded_year | HQ Location |
Merchandise financing is offered through partner stores.
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| domain | founded_year | HQ Location |
Point-of-sale financing for travel bookings is offered by Uplift.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Otto Pay
Frequently Asked Questions about Otto Pay
When was Otto Pay founded?
Otto Pay was founded in 2020 and raised its 1st funding round 3 years after it was founded.
Where is Otto Pay located?
Otto Pay is headquartered in Los Angeles, United States. It is registered at Los Angeles, California, United States.
Is Otto Pay a funded company?
Otto Pay is a funded company, having raised a total of $4.5M across 1 funding round to date. The company's 1st funding round was a Series A of $4.5M, raised on Nov 13, 2023.
How many employees does Otto Pay have?
As of Dec 31, 2022, the latest employee count at Otto Pay is 2.
What does Otto Pay do?
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.
Who are Otto Pay's investors?
Otto Pay has 5 investors. Key investors include Canaan, J.G. Wentworth, Kindred Ventures, 645 Ventures, and Twelve Below.