The Company was established in 1994 under the name PT Manunggal Multi Finance with business activities namely Leasing, Factoring and Consumer Financing in accordance with the Decree of the Minister of Finance of the Republic of Indonesia based on number 556 / KMK.017 / 1994 dated November 10, 1994.

Based on the Deed of Minutes of Meeting No. 67 dated 13 September 1995, made before Mrs. Agustina Junaedi, SH, Notary in Jakarta, and has been approved by the Minister of Justice of the Republic of Indonesia based on Decree No. C2-12668.HT.01.04.TH.95 dated October 6, 1995, the Company changed its name to PT Oto Multiartha.

In 1996, Sumitomo Corporation which is one of the Sogo Sosha general trading companies in Japan joined to become one of the Company's Shareholders. The Company, through the capital structure recapitalization in 1998, made Sumitomo Corporation the majority shareholder.

Following up on the provisions of the Financial Services Authority (OJK) No. 29 / POJK.05 / 2014 concerning Conducting Business of Financing Companies, the Company makes adjustments to business activities in the Company's Articles of Association to become business activities for Investment Financing, Working Capital Financing, Multipurpose Financing, Other Financing Business Activities based on OJK approval, Operating Leases, and / or Activities fee based. Amendments to the Articles of Association are contained in the Deed of Shareholders Decree. Amendments to the Articles of Association No. 42 dated 14 April 2015, which was made before the Notary Aryanti Artisari, SH, M.Kn, and had received approval from the Minister of Law and Human Rights of the Republic of Indonesia through Decree No. AHU-0771382.AH.01.02. 2015 in April 14 2015.

As an independent financing company, the Company has no connection with the manufacturer so that it has the discretion to finance all car brands in the market, both new and used.

With the "3M + 1T" performance guidelines ( Man, Management, Money plus Technology ), the Company has succeeded in providing satisfactory services to its customers and recorded significant performance improvements.

The Company continues to strengthen the information technology system used to expand market share by increasing efficiency and productivity in its business network, so that it can provide maximum services to business partners and consumers, among others by accelerating the process of paying off vehicles to dealers / showrooms , streamlining the process approval of consumer credit applications, as well as the process of receiving installments through payment channels spread throughout Indonesia.

The development of cooperation with PT Pos Indonesia, several national banks, and several retail franchise networks in Indonesia provides easy access for consumers to make installment payments through retail franchise outlets, ATM machines, internet banking , and mobile banking .

Since March 2016, the Company's shareholders are Sumitomo Corporation through its subsidiaries namely PT Summit Auto Group, Sumitomo Mitsui Banking Corporation, and PT Sinar Mas Multiartha, Tbk. The Company has grown and developed into one of the 10 largest finance companies in Indonesia thanks to the support of shareholders and cooperation with thousands of dealers spread throughout Indonesia. One of the awards obtained by the Company came from Infobank Magazine in 2017 which gave a very good performance predicate.

As of the end of December 2018, the Company had 96 business networks spread across 27 provinces in Indonesia with a total workforce of 2,543 people and with a total asset value of 24.26 trillion.

Shareholders who reach 5% or more as of December 31, 2018:
* PT Summit Auto Group: 49.90%
* Sumitomo Mitsui Banking Corporation: 35.10%
* PT Sinar Mas Multiartha Tbk. : 15.00%