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Business News/ Companies / Start-ups/  Ola forays into New Zealand in latest overseas push
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Ola forays into New Zealand in latest overseas push

Brian Dewil has been appointed as country manager for Ola's New Zealand operations

Ola has raised $50 million at a valuation of $4.3 billion from Hong Kong-based Sailing Capital and the China-Eurasian Economic Cooperation Fund. Photo: Pradeep Gaur/MintPremium
Ola has raised $50 million at a valuation of $4.3 billion from Hong Kong-based Sailing Capital and the China-Eurasian Economic Cooperation Fund. Photo: Pradeep Gaur/Mint

Bengaluru: Indian ride-hailing platform Ola (ANI Technologies Pvt. Ltd) said today it plans to launch operations in New Zealand, and expand its overseas rivalry with US-based peer Uber Technologies Inc.

Ola, founded in 2011 and backed by Japan’s SoftBank Group Corp, first expanded its international operations with a foray into Australia and the UK earlier this year.

Brian Dewil has been appointed as country manager for New Zealand operations, Ola said.

Ola, which is competing with Uber in the country’s $12 billion taxi market, did not provide further details about its expansion plans.

Meanwhile, Ola has also raised $50 million at a valuation of roughly $4.3 billion from Hong Kong-based Sailing Capital and the China-Eurasian Economic Cooperation Fund, according to reports. Ola did not immediately respond to a request for comment from Reuters.

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Published: 18 Sep 2018, 12:28 PM IST
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