Taxi aggregator Ola said on Thursday that it has appointed former Infosys chief financial officer Rajiv Bansal to head finance operations as part of its expansion drive in the country. Earlier this month, Ola raised $500 million led by Baillie Gifford, Falcon Edge Capital, Tiger Global, SoftBank Group, DST Global and China’s biggest taxi aggregator Didi Kuaidi. Bansal, quit from Infosys after a three-year stint, last month. “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. Rajiv will be part of Ola’s core leadership team,” Ola said in a statement.
Mitesh Shah, who is currently the CFO, will lead strategic finance initiatives as part of Bansal’s team, it added. “We are thrilled to welcome Rajiv on board. He brings with him a wealth of experience from his long tenure at Infosys. Rajiv’s understanding and expertise in the finance domain are extremely valuable for us at this juncture of growth,” Ola co-founder and CEO Bhavish Aggarwal said. Before joining Infosys, Mr. Bansal has worked in different capacities at Tata Technologies, Cable & Wireless, and ABB.
One of the highest paid executives in Infosys, Mr. Bansal took home a package of $770,858 for the year ended March 2015. Ola, which competes with US-based Uber and homegrown taxi companies like Meru, has been valued at about $5 billion in the latest round of funding. Ola’s investors include SoftBank Group, Tiger Global, Matrix Partners, Steadview Capital, Sequoia India, Accel Partners US and Falcon Edge, among others.