India’s ride-hailing company, Ola, has reportedly secured $74 million (Rs 520 crore) in series J round funding from Hong Kong-based capital management firm, Steadview Capital.
According to the document filed with the Registrar of the companies which were accessed by business signals provider Paper.VC, Ola said that “It has secured Rs 520 crore from its existing investor Steadview Capital by acquiring 2,45,082 preference shares at a subscription price of Rs 21,250 per share.”
Earlier in October, we have reported, that Ola is planning to raise $100 million from Hong based hedge fund Steadview capital and Flipkart co-founder Sachin Bansal.
The new round funding will make Ola the third most valued Indian private internet company after Flipkart which is valued at $22 billion and Paytm valued at $15 billion – $16 billion respectively.
