India's Richest People 2026 edition · 1 director · Source: Hurun India
- #551 Bhavish Aggarwal ₹6,100 Cr
Revenue · FY 2024
₹265.39 Cr
▲ 176% YoY
Net profit · FY 2024
₹91.19 Cr
Net margin 34.4%
EBITDA · FY 2024
₹89.36 Cr
EBITDA margin 33.7%
Authorised capital
₹4.93 Cr
Registered with MCA
Paid-up capital
₹4.21 Cr
Issued & subscribed
Open charges
₹79.76 Cr
Secured borrowings
Company age
19 yrs
Est. 2007
Employees · EPFO
125
Provident fund records
About Ola Financial Services Private Limited
Data last updated:
Ola Financial Services Private Limited is a private limited company based in Bangalore, Karnataka, India, a subsidiary of Ani Technologies Private Limited. It operates in the digital payment solutions segment of the financial services sector. It was incorporated on 24 February 2007 and has been in existence for over 19 years.
Its director Bhavish Aggarwal is #551 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U22219KA2007PTC127705. Its GSTIN is 29AAACZ3092L1ZS (Karnataka). The company holds 3 GST registrations, all of them active.
The company has an authorised share capital of ₹4.93 Cr and a paid-up capital of ₹4.21 Cr. It was formerly known as Zipcash Card Services Private Limited. It is led by directors including Harish Abichandani and Bhavish Aggarwal.
Its last annual general meeting (AGM) was held on 26 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Bangalore, Karnataka.
As per the financials filed for FY 2024, the company reported a revenue of ₹265.39 Cr, reflecting significant growth compared to the previous year. For the same year it recorded a net profit of ₹91.19 Cr (net margin 34.4%) and EBITDA of ₹89.36 Cr (EBITDA margin 33.7%). Revenue has grown at a compounded annual rate (CAGR) of 65% over three years and 28% over five years.
The company has about 125 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 3 brands: Ola Cabs, OLA Money and Zipcash. As per MCA filings, the company has open charges of ₹79.76 Cr on record. The company has 21 deals on record (10 secondary share transfers, 8 funding rounds, 3 rights issues), with disclosed funding of ₹211.52 Cr; the latest was in November 2021. The company has 5 MSME Form 1 returns on record between 2020 and 2024, listing 52 overdue payments to 20 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website zipcash.in.
Company details
CIN U22219KA2007PTC127705
Registration Number 127705
Incorporation Date 24 February 2007
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 26 September 2024
Date of Balance Sheet 31 March 2024
Parent Company Ani Technologies Private Limited
Compliance Status Active Compliant
CIN history
Ola Financial Services has one previous CIN (Corporate Identification Number): U22219MH2007PTC168132. The current CIN is U22219KA2007PTC127705, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U22219KA2007PTC127705 | Current |
| U22219MH2007PTC168132 | Previous |
Recognitions & Rankings of Ola Financial Services
Contact details
Ola Financial Services Private Limited's registered office is in Bangalore, Karnataka. Its website is zipcash.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressOla Campus C Wing, Prestige Rmz Startech Kormangala, Bangalore, Karnataka, India – 560095
- IndustryFinancial Services, Digital Payment Solutions
To see the full contact details of Ola Financial Services Private Limited, buy the company report.
Comprehensive company report
Ola Financial Services Private Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Brands
Ola Financial Services operates multiple associated brands including Ola Cabs, OLA Money, and Zipcash. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Ride-hailing, electric vehicles, and financial solutions are provided via app. | olacabs.com | |
| Digital financial products and services are provided by OLA Money. | olamoney.com | |
| Mobile-based prepaid instruments and vouchers are provided for payments. | zipcash.in |
Business activity
The main business activity of Ola Financial Services is information and communication. In detail, this covers data processing, hosting and related activities; web portal and other information & communication service activities. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J7 | Data processing, hosting and related activities; web portal | |
| J | Information and communication | J8 | Other information & communication service activities |
To see the full business activity and turnover split of Ola Financial Services Private Limited, buy the company report.
Financials of Ola Financial Services Private Limited
FY 2024 filings availableOla Financial Services Private Limited reported revenue of ₹265.39 Cr (up 176% YoY) for FY 2024.
Revenue · FY 2024
₹265.39 Cr ▲ 176%
Net profit · FY 2024
₹91.19 Cr margin 34.4%
EBITDA · FY 2024
₹89.36 Cr margin 33.7%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 176%
3 years · compounded
▲ 65%
5 years · compounded
▲ 28%
EBITDA CAGR growth
1 year
▲ 274%
3 years · compounded
▲ 55%
5 years · compounded
▲ 166%
Revenue has grown at a compounded annual rate (CAGR) of 28% over five years, including 176% growth in the latest year. EBITDA rose 274% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
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| Profit and Loss Statement | |||||
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| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹89.36 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹91.19 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
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| Inventories | |||||
| Trade Receivables | |||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 33.7% | ||||
| Net Profit Margin | 34.4% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
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| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Ola Financial Services Private Limited, buy the company report.
Board of directors of Ola Financial Services Private Limited
Ola Financial Services has 5 current directors and 17 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Harish Abichandani Also directs: Krutrim Cloud Private Limited, Krutrim AI Private Limited, Wildr Technologies Private Limited and 3 more | Director | 14 Feb 2024 | 2 Years 8 Months | Current |
| Bhavish Aggarwal Also directs: Ola Electric Mobility Limited, Krutrim Silicon Private Limited, Ola Cell Technologies Private Limited and 5 more | Director | 03 Feb 2020 | 6 Years 9 Months | Current |
| Arun Sarin | Director | 03 Feb 2020 | 6 Years 9 Months | Current |
| Krishnamurthy Venugopala Tenneti Also directs: Bhavishya Lakshmi Ventures LLP, Indegene Limited, Ola Electric Mobility Limited and 5 more | Director | 03 Feb 2020 | 6 Years 9 Months | Current |
| Ankush Aggarwal Also directs: Pisces Eservices Private Limited, AA Family Office LLP, Ola Fleet Technologies Private Limited and 1 more | Director | 13 Jun 2022 | 4 Years 4 Months | Current |
Auditor
Ola Financial Services Private Limited is audited by S.R. Batliboi & Associates LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S.R. Batliboi & Associates LLP | FY 2023 | 101049W/E300004 |
Shareholding
The shareholding of Ola Financial Services Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Ola Financial Services Private Limited, buy the company report.
Charges & borrowings
Open charges
₹79.76 Cr
Satisfied charges
None
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 24 Dec 2014 | 10540680 | Others | ₹79.76 Cr | Open |
To see the full charge records of Ola Financial Services Private Limited, buy the company report.
Total charge records: 1 View all charges
Deals & funding
Ola Financial Services Private Limited has 21 deals on record (10 secondary share transfers, 8 funding rounds, 3 rights issues), with disclosed funding of ₹211.52 Cr; the latest was in November 2021.
Total deals
21
Secondary share transfers
10
Funding rounds
8
Rights issues
3
Disclosed funding
₹211.52 Cr
Deals on record (5 of 21)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2016 | Secondary share transfer | Undisclosed | Buyer: Ani Technologies Private Limited Seller: an individual |
| Sep 2016 | Rights issue | ₹30.2 Cr | Investors: Ani Technologies Private Limited |
| Sep 2016 | Secondary share transfer | Undisclosed | Buyer: Ani Technologies Private Limited Seller: 4 individuals |
| Jun 2015 | Funding round | ₹3.19 Cr | Investors: Ani Technologies Private Limited |
| May 2015 | Secondary share transfer | Undisclosed | Buyer: Ani Technologies Private Limited , 2 individuals Seller: 4 individuals |
To see the full deal history of Ola Financial Services Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
No court or tribunal cases involving Ola Financial Services Private Limited are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
MSME payment delays
Ola Financial Services Private Limited has 5 MSME Form 1 returns on record between 2020 and 2024, listing 52 overdue payments to 20 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 20)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Ncome Tech Solutions Private Limited | |||
| Anb Solutions Private Limited | |||
| an individual supplier | |||
| Perfios Software Solutions Private Limited | |||
| Infinite Corp Service |
To see the full MSME payment records of Ola Financial Services Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Ola Financial Services has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
1
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Ola Capital Services Private Limited | U65929KA2019PTC123329 |
To see the full group structure of Ola Financial Services Private Limited, buy the company report.
Employees & EPFO
Ola Financial Services Private Limited has a workforce of 125 employees on its EPFO records as of Apr 08, 2024, across 1 active EPFO establishment.
Employee count
125
Active EPFO establishments
1
Employee growth
-61.42%
GST
Ola Financial Services has 3 GST registrations: 3 active.
Total GSTINs
3
Active
3
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AAACZ3092L1ZS | Karnataka | Active | 05 Sep 2019 |
| 29AAACZ3092L1C3 | Karnataka | Active | 23 Aug 2022 |
| 27AAACZ3092L1ZW | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Ola Financial Services Private Limited, buy the company report.
Recent activity
Ola Financial Services Private Limited has 22 board changes on record since 2010: 5 appointments and 17 cessations. The latest: Harish Abichandani was appointed as Director on 14 Feb 2024.
AGM
Ola Financial Services Private Limited last Annual general meeting of members was held on 26 Sep 2024 as per latest MCA records.
Filing
Ola Financial Services Private Limited has filed its annual Financial statements for the year ended 31 Mar 2024 with Roc Bangalore.
Appointed
Harish Abichandani was appointed as Director.
Charges
A charge with Others of Rs. 79.76 Cr registered on 24 Dec 2014 with Charge ID 10540680 was modified on 03 Jan 2023.
Ceased
Ankush Aggarwal ceased to be Additional Director.
Ceased
Guggilam Rajagopalan Arun Kumar ceased to be Additional Director.
Appointed
Ankush Aggarwal was appointed as Director.
Ceased
Gaurav Porwal ceased to be Director.
Ceased
Arun Sarin ceased to be Additional Director.
Ceased
Bhavish Aggarwal ceased to be Additional Director.
Ceased
Hemant Kaul ceased to be Additional Director.
Ceased
Krishnamurthy Venugopala Tenneti ceased to be Additional Director.
15 earlier events are in the company report.
News
Frequently asked questions
Ola Financial Services is an active private limited company based in Bangalore, Karnataka, India. The company works in digital payment solutions, within the financial services industry. It was incorporated on 24 February 2007 (19+ years old) and is registered under CIN U22219KA2007PTC127705.
Ola Financial Services has 5 current directors:
- Harish Abichandani - Director
- Bhavish Aggarwal - Director
- Arun Sarin - Director
- Krishnamurthy Venugopala Tenneti - Director
- Ankush Aggarwal - Director
The latest financial statements of Ola Financial Services on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 26 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Ola Financial Services is 29AAACZ3092L1ZS, registered in Karnataka. The company has 3 GST registrations in all, of which 3 are active. Other active GSTINs include 29AAACZ3092L1C3 (Karnataka), 27AAACZ3092L1ZW (Maharashtra).
The CIN (Corporate Identification Number) of Ola Financial Services is U22219KA2007PTC127705. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Ola Financial Services was incorporated on 24 February 2007, making it 19+ years old. It is registered with the Registrar of Companies, Bangalore.
Ola Financial Services has 21 deals on record (10 secondary share transfers, 8 funding rounds, 3 rights issues), with disclosed funding of ₹211.52 Cr; the latest was in November 2021.
Harish Abichandani was appointed as Director on 14 Feb 2024. Ankush Aggarwal ceased to be Additional Director on 28 Sep 2022. Guggilam Rajagopalan Arun Kumar ceased to be Additional Director on 28 Sep 2022. Ola Financial Services has 22 board changes on record in total.
Ola Financial Services has 5 MSME Form 1 returns on record between 2020 and 2024, listing 52 overdue payments to 20 micro and small suppliers. The latest return was filed on 04 May 2024.
Ola Financial Services can be reached through the website zipcash.in. Its registered office is in Bangalore, Karnataka, India.
The registered office of Ola Financial Services is at Ola Campus C Wing, Prestige Rmz Startech Kormangala, Bangalore, Karnataka, India – 560095.
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