The fintech giant and its founder are not new to crises, but the latest debacle dwarfs anything the company has faced in the past. The road to revival will be a tough one.
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Vijay Shekhar Sharma has focused on improving compliance, cutting costs and recovering market share after the RBI shut down his payments bank last year. The fintech major is yet to recover to its earlier highs, but its turnaround is gathering momentum.
Ola Consumer is gearing up for an IPO, but poor numbers, lack of direction and an uncertain path to profitability make the company a particularly risky bet for investors.
It reported losses in Q2 and Q3, its financial services business is reeling and its payments business is growing but earning less. The Gurugram-based fintech needs a turnaround.