New Delhi: Ola is investing up to RS 786.1 Crore at Ola Financial Services (OFS), which will now be a subsidiary of 100 percent of the Ride-reaging platform, according to regulatory documents.
According to the document delivered by Ani Technologies (which operates Ola) to the Company Registrar (ROC), Ola has received a nod to “make investment in Ola Financial Services Pvt Ltd.
until Rs 786,64,12,400 Considerations in the form of swap company shares”.
According to sources, AI Technologies will now have 100 percent of Ola financial services in agreement all stocks.
Emails sent to Ola did not get a response.
Ola Financial has sold more than 675 million policies sold and is an important part of the Ola Mobility platform.
In submission of recent regulations, Technologies Ani has said about many who want to expand the international insurance business to support the company’s mobility services through products designed for the UK and Australia markets, and New Zealand (ANZ).
It should be noted that the Ofs have a full year of turbulent (FY21) with the impact of external factors in the loan environment in general and multiple impacts on business mobility and abundance to the OLAMONEY brand.
OFS has launched many new products and capabilities in the loan and insurance business and increasingly deepen its partnerships with leading traders in the ecosystem.
OFS expanded a series of products by launching new loan offers in the form of two-wheeled loans, four wheels, and personal loans to offer a comprehensive financial product ecosystem to customers, according to the archiving.
Daris recently strengthened his leadership team in financial services with the appointment of PV Harinaraya as vice president of loan business.
Ola to invest up to RS 786 Crore in Ola Financial Services
