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Ola forays into New Zealand in latest abroad push

(Reuters) – Indian ride-hailing height Ola pronounced on Tuesday it skeleton to launch operations in New Zealand, and enhance a abroad adversary with U.S.-based counterpart Uber Technologies Inc.

The Indian start-up founded in 2011, that is corroborated by Japan’s SoftBank Group, initial stretched a general operations with a incursion into Australia and a United Kingdom progressing this year.

Brian Dewil has been allocated as nation manager for New Zealand operations, Ola said. The company, that is competing with Uber in India’s $12 billion cab market, did not yield serve sum about a enlargement plans.

Meanwhile, Ola has also lifted $50 million during a gratefulness of roughly $4.3 billion from Hong Kong-based Sailing Capital and a China-Eurasian Economic Cooperation Fund, a media news said. Ola did not immediately respond to a ask for criticism from Reuters.

Reporting by Sharnya G in Bengaluru, Editing by Sherry Jacob-Phillips

Article source: http://feeds.reuters.com/~r/reuters/INbusinessNews/~3/VJco911fhEw/ola-forays-into-new-zealand-in-latest-overseas-push-idINKCN1LY0GT

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