Online aggregator of car rentals, OlaCabs has recorded 40 percent month on month growth over the last financial year. The number of cabs on the Ola technology platform has crossed 4000 across Delhi, Mumbai and Bengaluru. Earlier this month, the company also launches its operations in Pune taking its presence to four major cities across India.

Bhavish Aggarwal, Co-founder and CEO, OlaCabs said, “We are growing very fast in all markets that we operate in. The growing number of bookings is an indication of tremendous customer confidence in our service and also the need for a reliable and on-time cab service that can happen at scale only with technology, the kind of which we use.  What is also heartening to see is the growing confidence of cab operators in the Ola brand. A lot of the new cabs added are a result of word of mouth from our existing operators. With the current scale of growth and the new cities we intend to serve in the year ahead, we are targeting a run-rate of $100m by the end of FY 14.”

The company claims that the growth can be attributed to number of new cabs added to the system as well as better inventory utilization through use of advanced technology. With real time tracking of each cab and building analytics with city data, Olacabs now works with over 1500 operators which include single-owner driven cars as well as large operators.

It also claims to have over 10,000 customer calls a day. The number of bookings through the first of its kind mobile app has increased by 100% quarter on quarter since August 2012. While the app saw upward of 2 million visits across Android and iOS, the web-booking platform had over 5 million visitors in the last year. Recently, the company released a new version of the mobile app offering additional features like advance bookings, custom pickups and Ola Money.

Launched in January 2011, Olacabs operates in competitive online car rental space with players like Easy Cabs, Meru Cabs, Yatri Cabs, Mega Cabs among others.