India’s Ola to Acquire Neo Bank Avail

Indian ride-hailing platform Ola is set to acquire Avail Finance, a neo-bank founded by the brother of Ola’s co-founder.

The deal, which is still subject to approval from shareholders, will help Ola Financial Services, a subsidiary of Ola, bolster its lending services and gain a foothold offering financial services to India’s underserved blue collar workers. Terms of the deal were not released.

Read more: PYMNTS