India Dealbook: Ola acquires Qarth, Commut buyout H2O Cabs

Photo: Pradeep Gaur/Mint

India’s largest taxi aggregator Ola, has acquired Qarth to strengthen its mobile payments platform, while employee transportation startup, Commut, has acquired app-based cab service company H2O.

Ola acquires mobile payment startup Qarth

Ride-hailing service provider Ola has acquired Chennai-based startup Qarth,  that has developed a mobile payments app called X-Pay. The financial details of the deal were not disclosed.

“With acquisitions like Qarth, we are investing in building seamless digital payment solutions,” Anand Subramanian, Senior Director, Marketing Communications at Ola, said in a statement. “As we work towards our mission of building mobility for a billion people, we will continue to build for a best in class payment experience for our users.”

Ola has its own e-wallet platform called Ola Money, and co-founders of Qarth Abhinav Srivastava and Prerit Srivastava, along with the rest of their team, will be joining Ola Money.

Commut acquires app-based cab service provider H2O Cabs

Hyderabad-based employee transportation startup, Commut, has acquired app-based cab service company H2O Cabs for an undisclosed amount. The acquisition is aimed at strengthening Commut’s verticals and increase its current foothold in the market.

Founded in 2015, Commut is a technology-based minibus shuttle service for daily office commuters. It currently has 35 minibuses running on 50 routes. On the other hand, H2O Cabs is an app-based cab service, founded in 2014 by Tejasri Darsi. It offers point to point cab service on fixed routes in Hyderabad, and lets users book a seat in A/C, Wi-Fi enabled cabs. Currently, it has about 1,000 registered users.

Post acquisition, H2O Founder Tejasi will be handling sales and partnerships of Commut.

Also Read:

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.