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Which company to acquire neo bank Avail Finance?
A)
Ola
B)
Uber
C)
Rapido
D)
Zoomcar

Correct Answer :   Ola


Mobility firm Ola has signed an agreement to acquire neo bank "Avail Finance" which provides financial services to the blue-collared workforce and has over 6 million users, the company said on Thursday(24th Mar 2022).
 
The acquisition is a key step in Ola's broader push into the fintech space as it looks to build a mobility-focused financial services business under Ola Financial, it stated.
 
"With this acquisition, Ola Financial Services will further strengthen its play in the credit underserved segments that comprise blue-collar workers such as Ola's driver-partner ecosystem. The deal is subject to shareholder approval," Ola said.
 
With this expansion, Ola will be able to cross-sell multiple lending products to its large driver-partner base.
 
Ola recently invested nearly Rs 800 crores into its financial services business. The company is offering a buy now pay later service, Ola Postpaid, to its four crore customers..

Source : Business Standard

Published On : March 26, 2022
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