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Ola said to raise $2 bn from SoftBank, Tencent

The funding will help Ola to continue its focus on India and build both its supply of vehicles and drivers


Ride-hailing company Ola on Monday secured $2 billion in new funding from a group of investors, including SoftBank Group Corp and Tencent Holdings Ltd, Bloomberg reported, citing a person familiar with the matter. The funding round isn't finished yet and the amount could change, the person said. The funding is also backed by venture capital fund jointly run by Indian industrialist Ratan Tata, the University of California's investment arm and U.S. institutional investors, Bloomberg said, citing people familiar with the deal. Japan's SoftBank has been looking to ...

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First Published: Mon, October 02 2017. 22:18 IST