Live
- Woman’s False Claim Sparks Unnecessary Panic
- Locals Report Naxal Activity in Karkala Village
- Mangaluru International Airport Sets New Records in Passenger and Flight Movements
- Where Areca failed, grow Coffee
- Collector Badavath Santosh Reviews Household Survey and Listing Process
- Awareness Session on SHE Team and POCSO Act
- Awareness Program in agricultural College on the Dangers of Drug Abuse for Youth
- 3500-Year-Old Menhir in Kamsanpally Village: A Call for Preservation
- The Role of Artificial Intelligence in Radiology: Transforming Diagnosis and Patient Care
- Hindustan Zinc Ltd. Signs MoU with Rajasthan Government to Invest Rs 36 Crores in Education Development
Ola investment in Avail Finance
Cab aggregator Ola has a signed strategic partnership with online lending startup Avail Finance under which both companies will build financial solutions for 1.5 million driver-partners of the ride-hailing firm.
New Delhi: Cab aggregator Ola has a signed strategic partnership with online lending startup Avail Finance under which both companies will build financial solutions for 1.5 million driver-partners of the ride-hailing firm.
As part of the tie-up, Ola has invested an undisclosed sum in Avail Finance. Earlier this month, Avail had announced raising $9 million funding led by Matrix Partners India. "Avail Finance has entered into a strategic partnership with Ola to build financial solutions for its base of 1.5 million driver-partners. As part of this partnership, Ola will be making a strategic investment in Avail Finance in its series A round of funding," Avail said in a statement on Friday.
Ola's investment - which is part of Avail's series A round - is in addition to the $9 million announced already. It, however, did not disclose the quantum of investment made. Avail aims to build customised financial solutions for Ola, including micro-savings and micro-insurance products for the Bengaluru-based company's driver-partners, the statement said.
