Ola books Butn for roadside assistance partnership

Ola books Butn for roadside assistance partnership

Butn CEO's Rael Ross & Walter Rapoport

Fintech Butn (ASX: BTN) has teamed up with India-based ridesharing platform Ola to provide Australian driver-partners access to a 24/7 road-side assistance hotline, with the service to go live in the fourth quarter of this year.  

Up to 100,000 Ola driver-partners will be able to use Butn Assist, enabling them to access a network of automotive industry partners in the event of an accident or breakdown.

A national network of Australian panel shops will also be assisting Ola drivers, including those using Butn’s invoice financing services.

“Australia is an important part of Ola’s global mobility business and we continue to bring new services to support our driver-partners and customers. Our association with Butn is one such initiative,” says Ola chief operating officer Gaurav Porwal.

“We are glad to bring their Butn Assist service in Australia for our driver-partners to receive swift assistance when required which will result in improved safety on the road and also enable our driver-partners to get back on the road quickly, which is critical to them,” he continues.  

The partnership comes two months after Melbourne-based Butn made its debut on the ASX, with the fast-growing company having provided Australian SMEs (small and medium enterprises) more than $700 million in funding since 2015.

Butn Co-founder and winner of the 2020 Australian Young Entrepreneur Award in the Digital Disruptor category Rael Ross is looking forward to the partnership.

“Butn is excited to partner with Ola – a global industry leader, supporting Ola driver-partners both on and off platform in the automotive space where Butn has its roots,” says Ross.

“With our world-class suite of B2B funding products and growing pipeline of strategic partnerships, we look forward to the exciting growth opportunities that lie ahead.”

Butn revenue in FY21 was in line with the year prior, at $4.6 million, however, the company reported a statutory loss after tax of $5.3 million. 

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