Mitesh Shah, Ola’s current CFO, will make way by moving to a new role in charge of “strategic finance initiatives”.
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Bansal’s appointment at Ola comes as the company, India’s third-most valuable start-up, is in the process of overhauling its senior leadership and is looking to hire a new product chief, engineering head and general counsel.
Taxi hailing service Ola has fortified its finance team by hiring the former chief financial officer of Infosys Ltd, Rajiv Bansal, in the same position. “We will continue to build for the local market through innovative solution”, cofounder and chief executive Bhavish Aggarwal had said.
“As one of Indias most valuable startups, it carries with it amighty responsibility of setting an example on corporate governanceand best practices in finance”.
“Rajiv brings close to 21 years of experience in finance with over 16 years at Infosys, where he was the CFO and recently transitioned to being an advisor to the CEO”.
Before joining Infosys, Bansal has worked in different capacities at Tata Technologies, Cable & Wireless, and ABB.
He further said, “I am thoroughly excited about coming on board with this unbelievable team to co-create yet another globally admired company out of India”.
The taxi-hailing business in India is heating up as both Ola and US-based Uber Technologies Inc are investing heavily to entrench themselves in the country.
This funding round was important for Ola, whose value was $2.5 billion in April, to overpower Uber. Earlier this month Ola announced the completion of its $500 million fund raise led by Baillie Gifford, China’s biggest taxi aggregator Didi Kuaidi and existing investors Falcon Edge, Tiger Global, SoftBank, and DST Global.
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Founded in January 2011 by IIT Bombay alumni Aggarwal and Ankit Bhati, Ola allows users across 102 cities to book from more than 275,000 cabs and 75,000 auto rickshaws on its platform.
