Temasek and Warburg Pincus back Ola
Mobility platform Ola announced that Temasek and Plum Wood Investment, an affiliate of Warburg Pincus , a global private equity fund focused on growth investing, are partnering with Ola founder Bhavish Aggarwal for a $500 million investment ahead of Ola’s IPO.
“Over the last 12 months we’ve made our ride hailing business more robust, resilient and efficient. With strong recovery post lockdown and a shift in consumer preference away from public transportation, we are well positioned to capitalize on the various urban mobility needs of our customers. I welcome Warburg Pincus and Temasek to Ola and look forward to collaborating with them in our next phase of growth.” – Bhavish Aggarwal, Chairman and Group CEO, Ola.
“Warburg is excited to partner with Bhavish and Ola. They are the leading mobility platform and one of biggest consumer internet platforms in India with a robust and fast growing business. We look forward to collaborating with Bhavish and the team in the next phase of Ola’s growth.” – Vishal Mahadevia, Managing Director and Head of India at Warburg Pincus.