Ola News and Updates

[Bapun Raz]

• Ola announced that it has entered an agreement to acquire online lending platform Avail Finance.
• Ola had first invested in Avail Finance back in 2019 and presently owns 9% stake in it.
• Ola believes that the acquisition could help the company further enhance their own financial services offering.

Ola is going to acquire CEO Bhavish Aggarwal’s brother’s firm Avail finance

Ride hailing giant Ola on Friday announced that it has entered an agreement to acquire online lending platform Avail Finance, which is run by Ola’s founder and chief executive (CEO) Bhavish Aggarwal’s brother Ankush Aggarwal. The companies did not disclose the terms of the deal as the...

www.businessinsider.in

 

[Bapun Raz]

Ola shuts down used cars and quick commerce businesses to focus on EVs, ride hailing

In an official response, the company spokesperson confirmed the development and said, Ola has reassessed its priorities and decided to shut down the quick commerce business. The Ola Cars infrastructure, technology and capabilities will now “be repurposed towards growing our Ola Electric sales...

economictimes.indiatimes.com