In February we blogged about the launch of inDrive Money in Mexico. Now, we’re really happy to be officially launching in Colombia, in partnership with R2, a Latin American fintech company that provides financing to small and medium-sized businesses.
inDrive Money promotes the economic inclusion of the drivers who use our app, many of whom would otherwise struggle to access various financial services from traditional sources (like banks). As such, it has the potential to make a big difference in people’s lives, (and that’s what inDrive is all about).
This new product enables drivers to access cash loans for a period of 3 to 5 months via the inDrive app, with the average loan being around $980,000 Colombian pesos. Drivers can then repay their debt by working through the app as they usually do.
This service joins our other offerings available in Colombia: ride-hailing, intercity, couriers and freight. It’s already available in 7 cities across the country, and a NPS survey found that 72% of our drivers would recommend inDrive Money to their family and friends, so we’re off to a great start.
We’ve been active in Colombia since 2018. In fact, we’re the number one downloaded mobility app in the country, which means a lot to us. We’re proud to support our drivers in everything from financial help to car maintenance, and we really want to see them thrive as independent entrepreneurs. So here’s to the launch inDrive Money - may it serve Colombians well!
