Indian ride-hailing company Ola is finalising about 735 crore rupees ($100 million) investment from existing investor Hong Kong-based hedge fund Steadview Capital as Ola continues on its capital-raising spree.
The ongoing financing round is expected to value Ola at $5.5 million to $6.5 billion.
Steadview is putting a large sum of capital as part of the round where e-commerce platform Flipkart is also investing.
Last year, Ola had raised $1.1 billion at a valuation of close to around $4 billion and had said at that time it would raise another $1 billion. It has been targeting a higher valuation of $6 million to $7 billion for the additional capital.