India’s Ola expands its ride hailing services into New Zealand

Ola is steadily expanding its footprint in overseas markets. Earlier this year, it had forayed into the UK and the Australian ride-hailing markets.

On Tuesday, Indian ride-hailing platform Ola said it plans on expanding its operations to New Zealand. The move underscores its latest push overseas as it ups its rivalry with its peer, Uber Technologies Inc.

Founded in 2011, Ola has the backing of Japan’s SoftBank Group Corp. Earlier this year, it expanded its operations in overseas market including, UK and Australia.

In a statement, Ola said Brian Dewil has been appointed as country manager for its New Zealand operations.

Ola has taken Uber’s Indian operation head on and is competing for market share in the $12 billion taxi market in India.

Ola did not provide further details about its expansion plans.

According to a media report, in its latest funding, which was led by China-Eurasian Economic Cooperation Fund and Hong Kong-based Sailing Capital, Ola raised $50 million and was valued at nearly $4.3 billion.

Ola did not immediately respond to a request for comment.

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