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Aya Lin · · 1 min readIn brief: Ola to invest in Avail, add microfinance products
- Indian ride-hailing company Ola plans to invest an undisclosed sum in fintech startup Avail Finance as part of a wider partnerhsip to build financial solutions for its base of 1.5 million driver-partners, Livemint reports.
- The fintech firm has raised US$9 million in an ongoing series A round led by Matrix Partners.
- Avail aims to build customized solutions for the ride-hailer, including micro-savings and micro-insurance products.
- Ola chief operating officer Puneet Bhirani said that Avail’s “innovative portfolio” of financial products are “very relevant for Ola’s large and growing base of driver-partners.”
Editing by Eileen C. Ang
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