Cab Leasing Arm Ola Fleet Procures $156.3 Mn Loan From YES Bank

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Ola’s wholly-owned cab leasing subsidiary, Ola Fleet Technologies, has reportedly procured a term loan of $156.3 Mn from India’s fifth largest private-sector bank, YES Bank.
The loan from YES Bank, as per the documents, is based on lease agreements between Ola Fleet and its partner drivers. As per MCA filings, Ola Fleet previously secured a loan of $39 Mn from Yes Bank in 2016.