Ola Money raised its first funding round at $238 Mn valuation

Ola Financial Services raised about Rs 205 cr from Falcon Edge & Matrix Partners as part of its first institutional financing round, where Apoletto Managers & Arun Sarin's family office also participated, reportedly at a valuation of $250mn

As part of the funding, Vikram Vaidyanathan, MD at Matrix Partners has joined the board of Ola Financial Services.

In a separate development, Nitin Gupta, CEO of Ola Financial Services resigned, “Nitin has decided to move on from his active role at Ola… he is a solid entrepreneur and in his two year-plus years with us, has built a great foundation for our OFS business,” Bhavesh Aggarwal wrote in the email.

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