inDrive, a global mobility and urban services platform operating in 46 countries, and the world’s second most-downloaded mobility app, announces the launch of inDrive Money, its first financial product in Colombia. The initiative, which aims to enhance financial inclusion for drivers operating on its platform, will be carried out in partnership with R2, a Latin American fintech specializing in financing for small and medium-sized businesses.
Currently available in 17 cities across Colombia, the new product offers income-based financing to drivers, enabling them to access cash loans of up to COP 1,000,000 (USD 240) for a flexible period of 3 to 5 months, depending on their activity on the inDrive app.
Thanks to its full integration with the inDrive app, drivers can easily apply for loans, check balances, and make repayments as they earn from trips. Loan payments are automatically deducted alongside the inDrive commission on each ride, enabling drivers to seamlessly manage their finances while continuing to use the app as normal.
inDrive Money first launched in Mexico in February 2024, with the aim of improving financial inclusion for gig economy workers who have historically been underserved by traditional financial institutions. inDrive’s diversification into financial services aligns with the company’s overarching “supermission” to challenge injustice, including by offering more equitable solutions, and ensuring freedom of choice for both service users and service providers.
