Ola plans to invest in Avail Finance

ANI Technologies-owned Cab aggregator Ola plans to invest an undisclosed sum in Avail Finance as part of its deal with the latter to build financial solutions for its base of 1.5 million driver partners.

Avail aims to build customized financial solutions for Ola, including micro-savings and micro-insurance products for Ola’s driver partners.

In a statement on Friday, Ankush Aggarwal, founder at Avail Finance said, “We already have close to a million registered users through our various offerings and have processed requests of over $50 million. This strategic partnership will further help us expand our offerings to a large, growing base of users with very unique needs.”