# Ola Financial Services Pvt.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ola-financial-services-pvt

- Industry: Financial Services
- Headquarters: Bangalore, India
- Website: www.olamoney.com
- Total disclosed funding: $27M
- Latest round: Series A (May 26, 2020)
- Investors on record: 3

## About

Ola Financial Services Pvt. Ltd. specializes in digital payment solutions, providing consumers with innovative financial products designed to enhance convenience in everyday transactions and financial management.Founded in 2015 and headquartered in Bangalore, India, Ola Financial Services Pvt. Ltd. operates within the digital financial services sector, offering a variety of payment solutions. The company has not undergone any significant pivots in its business strategy since inception. In December 2021, Ola Financial Services raised INR 7860 million from ANI Technologies Private Limited. The total amount raised to date stands at INR 7860 million across two deals, with the most recent deal dated 2021-12-01. The founder's history is currently unmentioned, and there is no information regarding subsidiaries or parent companies.OlaMoney offers a suite of financial products designed to enhance consumer convenience in the digital payment landscape, including the OlaMoney Wallet, OlaMoney Postpaid, and OlaMoney Credit Card. The OlaMoney Wallet serves as a digital payment solution that enables transactions for rides, bills, and more. The OlaMoney Postpaid feature provides customers with a credit line, allowing flexible payment for utilized services, especially in the ride-hailing segment. Additionally, the OlaMoney Credit Card, developed in collaboration with SBI, targets frequent travelers by offering rewards for travel-related expenditures.For the most recent year of 2023, Ola Financial Services reported revenue of INR 10,659,429.2 and an EBITDA of INR -7,586,822.3. The revenue structure is primarily based on transactional fees and partnerships with merchants in the ride-hailing ecosystem. The OlaMoney Postpaid service generates revenue through interest and fees related to credit services, while the OlaMoney Wallet facilitates transactions that incur merchant fees. The partnership with SBI regarding the OlaMoney Credit Card adds further income through card issuance and interchange fees.Ola Financial Services aims to innovate with upcoming products and enhance its market presence. The company plans to expand its product offerings, leveraging the recent INR 7860 million funding raised in December 2021 to support product development and market expansion. Specific details regarding new products or service launches have yet to be disclosed, but expansion efforts may target key regions within India to increase its customer base and service reach.

## Funding rounds

- Series A, May 26, 2020, $27M — Matrix Partners, Alpha Wave Global, Gemini Investments

## Investors

- Matrix Partners (https://capitalatlas.ai/funds/matrix-partners) — Series A
- Alpha Wave Global (https://capitalatlas.ai/funds/alpha-wave-global) — Series A
- Gemini Investments — Series A