Flipkart’s Sachin Bansal invests Rs 650 crore in cab hailing app Ola

Flipkart’s Sachin Bansal invests Rs 650 crore in cab hailing app Ola

Bengaluru: Ride-hailing platform Ola on Tuesday confirmed an investment of Rs 650 crore from Co-founder of Flipkart Sachin Bansal.

The investment is part of Ola’s larger Series J funding round and is in Sachin’s personal capacity as an investor.

“Ola is one of India’s most promising consumer businesses, that is creating deep impact and lasting value for the ecosystem,”

“On one hand, they have emerged as a global force in the mobility space and on the other, they continue to build deeper for various needs of a billion Indians through their platform, becoming a trusted household name today.”

Bhavish Aggarwal, Co-founder, and CEO of Ola, said in a statement: “Sachin is an icon of entrepreneurship and his experience of building one of India’s most respected businesses ground up is unparalleled. His investment is a huge encouragement for all of us at Ola and our mission to serve a billion people.”