Ola plans to invest in Avail Finance
5 years, 6 months ago

Ola plans to invest in Avail Finance

Live Mint  

Bengaluru: ANI Technologies-owned Cab aggregator Ola plans to invest an undisclosed sum in Avail Finance as part of its deal with the latter to build financial solutions for its base of 1.5 million driver partners. Avail Finance said on Monday it had already raised $9 million in the Series A round led by Matrix Partners in addition to the proposed undisclosed sum from Ola. In a statement on Friday, Ankush Aggarwal, founder at Avail Finance said, “We already have close to a million registered users through our various offerings and have processed requests of over $50 million. This strategic partnership will further help us expand our offerings to a large, growing base of users with very unique needs.” According to Vikram Vaidyanathan, MD, Matrix India, the partnership with Ola will help Avail "unlock truly unique benefits for Ola’s driver partners".

Ola Avail  invest  ola  sum  driver  unique  plans  avail  solutions  finance  undisclosed  million  users

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Ola to acquire Avail Finance owned by Bhavish’s brother
2 years, 9 months ago

Ola to acquire Avail Finance owned by Bhavish’s brother

Live Mint  

Ltd, the parent of ride-hailing platform Ola Cabs, has reached an agreement to pick up a 100% stake in fintech startup Avail Finance, which serves the blue collar workforce, the company said on Thursday evening. Ola Financial Services seeks to serve ‘credit-underserved’ segments comprising blue collar workers such as its driver partner ecosystem, it added. The fintech business will be …

Ola to provide interest-free loans to drivers for three weeks in face of COVID-19 lockdown
4 years, 9 months ago

Ola to provide interest-free loans to drivers for three weeks in face of COVID-19 lockdown

The Hindu  

Ola on Tuesday announced a scheme to provide interest-free loans to drivers on its platforms to address the immediate liquidity crisis faced by drivers across the country. This scheme, called Sahyog, is available for all drivers of all categories including Ola Auto, Ola Rentals and Outstation and will be distributed using the microfinance lending platform, Avail Finance. Ola, in a …

Avail Finance eyes 15 million customers
5 years ago

Avail Finance eyes 15 million customers

The Hindu  

Fintech start-up, Avail Finance, that provides online loans, amongst other financial solutions, to blue-collared workers like drivers and security guards earning between ₹15,000 and ₹20,000 a month is targeting to onboard 15 million of such unserved people in the next 18 months on its platform, a top executive said. The company, which has cumulatively disbursed loans of ₹250 crore to …

Microsoft set to invest $200 mn in Ola, boost connected car tie-up
5 years, 2 months ago

Microsoft set to invest $200 mn in Ola, boost connected car tie-up

Live Mint  

Ride-hailing company Ola is set to unveil a connected car project in partnership with Microsoft Corp., which will also invest around $200 million in Ola’s parent, ANI Technologies Pvt. Ola’s proposed connected vehicles project is an “extension” of the initial tie-up with Microsoft, the second person said. As part of the partnership, Microsoft would become the default cloud service provider …

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