Ola partners with Indifi to help its drivers access personal loans
Leading Indian ride-hailing app, Ola, as announced its partnership with Indifi to provide personal loans for drivers registered on its platform. Indifi is described as “a tech startup that enables small enterprises to gain greater access to debt financing.” The Indifi partnership is already up and running in two major Indian cities (Pune and Bengaluru), and Ola plans to partner with multiple finance companies over the next six months to extend this facility to drivers across the country. Drivers who have been with Ola for more than six months and those who have made at least eight monthly instalments on their car loans will be eligible to apply. "We are committed to ensuring personal and professional wellbeing of our driver partners. This initiative and more such partnerships in the coming months will be a major step in that direction," said Pranay Jivrajka, COO of Ola.

Ola, the mobile-based personal transportation app, has partnered with Indifi , a tech startup that enables small enterprises to get financing, to provide easy access to personal loans for it’s registered drivers. Ola has already initiated the loan scheme in Pune and Bangalore and plans to partner with multiple finance firms in the next 6 months to make this facility available to drivers across the country.Drivers who have been with Ola for more than 6 months or those who have paid a minimum of eight EMIs of their car loan will be eligible to apply for personal loans through this partnership. They can avail loans for their personal needs like marriage, business of spouse, repayment of hand loans, home renovation etc. The loans will be disbursed within three to four working days. However, before disbursal, the driver will be scanned under CIBIL criteria. Indifi will finance these loans through Edelweiss Retail Finance.“Access to financing for personal needs is essential to help our drivers achieve their goals and with an improved repayment capability, this partnership makes it completely hassle free for drivers,” said Pranay Jivrajka , Chief Operating Officer at Ola, said,Earlier in 2014, Ola had set aside a fund of Rs 100 crore towards investment in the driver ecosystem to help nurture them as entrepreneurs.