Taxi aggregator Ola has acquired Chennai-based Qarth Technologies, an IIT-Madras incubated start-up, for an undisclosed amount.
Ola said this will strengthen its digital payment app Ola Money launched in November last year.
According to a release, the founders and the team of Qarth will join the Ola Money team to further build cutting edge solutions.
According to the taxi aggregator, the payments space is fast evolving and Ola is investing considerably on building digital payment solutions.
The digital payment space has evinced strong interest among the e-commerce players with most of them taking the inorganic route to get into this space.