Sachin Bansal backs 2 bike rental cos

BENGALURU: After betting big with a $92-million equity investment in ridehailing giant Ola, Flipkart co-founder

Sachin Bansal

has now given debt to rival bike rental startups

Bounce

and

Vogo

. Bansal has given debt to both companies $3-4 million each, with an option to lend more.


Vogo is backed by Ola and VC firm Matrix Partners India, while Bounce is backed by Sequoia Capital India. The deal is a part of money management exercise for the holding company set up by Bansal called BAC Acquisitions.

“This is just a treasury management activity for the company. There’s nothing more to it,” said Bansal in a statement to TOI, without confirming size of the investments.

Earlier, he had also lent Rs 500 crore collectively to NBFCs Altico and Indostar. Bansal made about $1 billion when he sold his 5% stake in Flipkart.