Live
- Formula 1: Russell pips Sainz to take pole in Las Vegas GP
- People voted for ideology, rejected dynasty: Sudhanshu Trivedi on Maha victory
- AP, Telangana to receive rains for next three days as low pressure to turn depression
- Kailash Gahlot inducted into BJP’s Delhi election panel
- With state elections over, Indian stock market heads for stability
- Mahayuti's Ladki Bahin Brahmastra demolishes MVA in Maharashtra
- Actor and Youth Ambassador Darasing Khurana Highlights Mental Health Issues with Singapore PM
- Heavy FII selling in India to taper off soon, say market watchers
- Esports Mania Grips India: What are the Trends Fueling this Growth?
- AI-Powered CRM: Shaping the Future of Customer Relationship Management
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.
