In nearly 50 countries, inDrive—a well-known expert in the domains of urban services and worldwide mobility—makes ride-hailing easy, affordable, and uncomplicated.

Nonetheless, inDrive is expanding into the financial services industry by introducing inDrive Money, an integrated product that provides cash loans to drivers using its network in Mexico, in recognition of the need to enhance financial inclusion.

InDrive Money will make loans from inDrive's lending partners—Mastercard, R2, Galileo, and GIRO—available to drivers who are frequently turned down by traditional financial institutions. This is made possible by the company's in-depth knowledge of potential borrowers and its seamless integration into its app.

Arsen Tomsky, the founder and CEO of inDrive, says, "I've heard drivers say time and time again that it was very difficult to access lending on fair terms." "Today, inDrive is combating social injustice by utilizing technology to open up new options for drivers.

"InDrive is able to provide our technology and insights to power fairer lending solutions that would not be available to drivers, who frequently don't have easily predictable income streams, thanks to our partnerships with Mastercard, R2, Galileo, GIRO, and others."

The impressive expansion of inDrive

With its main office located in California, inDrive began operations as a ride-hailing service in 2013.

The software has been downloaded over 200 million times in the 11 years that have passed, and in 2022 and 2023 it ranked as the second most downloaded mobility app.

A growing range of urban services, such as task assistance, freight delivery, B2B delivery, intercity transportation, and courier services, are being offered by inDrive in addition to ride-hailing.

The fact that inDrive currently has operations in 749 locations in 46 countries, with regional hubs in the Americas, Asia, the Middle East, Africa, and Commonwealth of Independent States (CIS), may be the strongest indicator of the company's rapid expansion.

Furthermore, inDrive is setting the standard for environmental, social, and governance (ESG) activities. It does this by empowering local communities through its peer-to-peer pricing model and community empowerment programs, which promote gender equality, sports, education, and the arts and sciences.

Financial accessibility for temporary employees

In collaboration with a reputable financial institution, inDrive Money is providing cash loans to drivers in an effort to increase financial inclusion for gig workers in developing nations.

At the moment, this is taking place in Mexican cities, but the company intends to broaden the geographic reach of its finserv offering.

More than two-thirds (68%) of respondents in Mexico to a recent inDrive study said they would be interested in getting a loan. Subsequently, 57% of the loans made during the first trial period of inDrive Money went to customers who had already paid back their previous loan.

Drivers can apply for loans, check balances, and repay loans as they earn thanks to the complete integration within the inDrive app. Loan repayments are processed straight out of the commission that drivers pay to inDrive for each ride.

This implies that drivers can simply return their debts while using the app as usual.

In the meantime, inDrive is working with other organizations to provide credit cards to drivers in Monterrey. Additionally, the company is creating new products that will enable drivers to access a comprehensive range of contemporary financial services through an in-app interface.