Ola to buy Founder Bhavish's brother-led firm Avail Finance, reportedly for $50 mn

Ola has said that it will buy Avail Finance, a platform founded by Ola Founder and CEO Bhavish Aggarwal's brother Ankush, reportedly for $50 million. "Avail has been struggling as its lending business was hit during the pandemic...Merger is a lifeline from Bhavish," Moneycontrol reported citing a source. Ola invested in the firm in 2019 and currently has 9% stake.