Flipkart co-founder Sachin Bansal invests 650 cr in Ola

Flipkart co-founder Sachin Bansal has invested Rs 650 crore in ride-hailing firm Ola.

Bansal, who is richer by $1 billion after leaving Flipkart following the acquisition of the e-commerce major by Walmart in May last year, has been in talks with several startup companies to invest.

According to documents accessed from data intelligence firm Paper.vc, Bansal has picked up 70,588 fully and compulsorily cumulative Series J preference shares having a face value of Rs 10 at a premium of Rs 21,240 per share. The fund infusion is part of the Series J round of funding into the ride-hailing company. Recently, Ola also raised Rs 520 crore from existing investor Steadview Capital, the documents from Paper.vc showed.

The last round of fundraising by Ola was $1.1 billion from China's Tencent Holdings and existing investor SoftBank Group in October last year.