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Sachin Bansal, Flipkart Co-Founder, Invested $21 Million In Ola

Sachin Bansal acquired shares in Ola worth $21 million.
BY BEx Bureau
BusinessEx
Jan 14, 2019

A major investment in Ola, ride-hailing firm, has been made by Flipkart Co-founder, Sachin Bansal. Bansal has procured 70,588 Series J shares which worth Rs. 21,250 per share. The investment is one of the significant investments for the Indian ride-hailing company as it was keenly looking for the investors. Bansals investment is second in the series after Steadview Capital endowed money up to $ 74 million earlier this month.

The document registered with the registrar of companies (RoC) testifies the business deal. The investment is said to be part of a larger $100 million investment that Bansal had committed to Ola last year. (Source: ET)

In the past few years, Flipkarts Co-founder, Sachin Bansal and Olas Co-founder, Bhavish Aggarwal, has become close friends. The duo has shared their concern over how domestic startups lacked a level playing field against their deep-pocketed global rivals. (source: ET)

Back in December 2016, Sachin Bansal had made a statement while addressing global companies, We need your capital, not your companies. ( source: ET)

So, the present investment is an important move by the industrialist to fortify domestic ride-hailing company, Ola.

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