Bengaluru, Nov 21 (IANS) OlaMoney, the financial services arm of ride-hailing platform Ola, on Thursday appointed veteran financial services executive Hemant Kaul as a board member.

"Hemant's mentorship and guidance will help us in this journey to build meaningful financial solutions for a billion people," said Ola co-founder Bhavish Aggarwal in a statement.

Kaul was a member of the initial UTI Bank/Axis Bank startup team, associated with Axis Bank till 2009 as Executive Director.

He was the Chief Executive and Managing Director of Bajaj Allianz general insurance until 2012, after which he has been independently consulting and advising businesses.

OlaMoney offers digital wallet, post-paid services and micro-insurance for the ride-hailing app's rides among others.

--IANS sth/vd