India’s taxi-hailing app service, Ola is stepping up for its first international venture in Australia. Currently, the Australian market is dominated by Ola’s rival in India, Uber. Just like how it captured the Indian market, it may have better plans for the market abroad. The rapid growth of the Bangalore based service which started in 2011, was quick and immense. Ola will soon start the recruitment process of its drivers in Sydney, Melbourne, and Perth, where it plans to launch the service first. The firm has earned massive profits over the years who now claims to have 125 million users in India.
Ola has now appointed a financial technology entrepreneur to manage the feature of Ola Money, where payments of your ride can be done through this digital payment platform of its own. It was backed up by investors from Japan’s SoftBank and US fund Tiger Global Management. The firm is waiting for the regulatory approval from Australia who promises to give high quality and an affordable traveling experience like never before to its customers there.
“We are very excited about launching Ola in Australia and see immense potential for the ride-sharing ecosystem which embraces new technology and innovation,” said Ola’s chief executive and co-founder Bhavish Aggarwal to BBC.