OLA’S FINANCIAL SERVICES ARM RAISES ₹200 CR

BENGALURU: The financial services arm of cab-hailing platform Ola has raised fresh funding of ₹200 crore from Matrix Partners and Falcon Edge Capital in an on-going round of fundraising, said two people aware of the development. Separately, Nitin Gupta, chief executive of Ola Financial Services Pvt. Ltd has resigned, according to an email from Ola’s CEO Bhavish Aggarwal sent to employees on Tuesday. A copy of the email was reviewed by Mint. Ola Financial Services is currently in the fundraising mode and will look to secure additional equity financing in the upcoming months, said the first person, requesting anonymity.