Ola buys majority stake in mobile wallet ZipCash

Merisis Advices Ola on its buy side mandate with a majority stake in mobile wallet ZipCash

In the race to stay ahead in India's hyper-competitive online taxi services space, ANI Technologies Pvt Ltd, the owner of Ola, has acquired a majority stake in mobile wallet company ZipCash Card

Ola Cabs is a new age travel company which provides cab services to consumers. Ola aggregates cabs on their platform and connects them to the nearest passenger through their automated platform. They have raised capital from Tiger Global, Matrix Partners, Sequoia Capital, Steadview Capital and Softbank. The company was founded in 2010 by IIT Bombay graduates Bhavish Aggarwal and Ankit Bhati Merisis Advisors advised Ola, a technology company in the taxi aggregation space on its purchase of a company in a complementary area in April 2015 in a domestic M&A transaction.

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