Ola raises $500-mn term loan, in talks to raise $1 bn at $7.5-bn valuation

IPO-bound firm is likely to use the loan to fuel its vision for future of mobility across businesses including ride-hailing, vehicle commerce, delivery with foods, quick commerce & financial services

IPO-bound mobility platform Ola, said it has successfully raised $500 million via a Term Loan B (TLB) from marquee international institutional investors. This term loan has no impact on the valuation of Bhavish Aggarwal-led Ola.

The Bengaluru-based firm recently raised $139 million. This is part of a $1 billion funding round for which the company is in talks with investors, increasing its valuation to about $7.5 billion, according to the sources.

Ola said the proposed loan issuance received a staggering response from investors with interest and commitment of approximately $1.5 billion. A term loan provides borrowers with a lump sum