Ola is thinking to invest Rs 786 crores in Ola Financial Services (OFS) and having a 100 per cent subsidiary of the platform, according to regulatory documents. The documents given by ANI Technologies to the Registrar of Companies (RoC) said that Ola has got the nod to “invest in Ola Financial Services up to Rs 786,64,12,400 against swap of shares of the company”.
Ola Financial has sold over 675 million policies. In a regulatory filing, ANI Technologies had said OFS is expanding its insurance business globally to help the mobility services by products made for the UK and Australia, and New Zealand markets. It had seen that OFS had external factors on the lending environment in general and on mobility business and to the OlaMoney brand.
OFS had launched some new products and capabilities in both the lending and insurance sectors and strengthened its partnerships with the leading merchants in the ecosystem. OFS is also launching new lending offerings in two-wheeler, four-wheeler, and personal loans.