Flipkart co-founder Sachin Bansal invests INR 650 crores in Ola

Sachin Bansal invests INR 650 crores in Ola

Sachin Bansal, who left Flipkart in 2018 invested INR 650 crores ($92 million) in Bengaluru based ride-hailing company ‘Ola’ which turns out as the largest investment made by an individual in the fundraising.

“Ola is one of the India’s most promising consumer business, that is creating deep impact and lasting value for the ecosystem,” said Sachin Bansal.

The investment comes as a part of Ola’s series J funding round under which it is planning to raise $1 Billion (Approximately 7150 cr).

Walmart acquired 77% stake in Flipkart for $16 Billion in 2018.

In October 2017, Ola had announced raising $1.1 Billion funding from China’s Tencent Holding and Softbank Group.

Ola was found in 2011 by Bhavish Aggarwal and Ankit Bhati.

It is claimed to be one of the world’s largest ride-hailing companies having users in more than 125 cities with over a million drivers on its platform.

Flipkart was founded by Sachin Bansal and Binny Bansal in the year 2007. “Sachin is an icon and an inspiration to a whole generation of entrepreneurs” stated Bhavish Aggarwal.

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