Ride-hailing startup inDrive has raised $150 million in a debt funding round

Ride-hailing app inDrive has secured $150 million in a debt funding round from General Catalyst to develop new business verticals.

Founded in Russia, but with an established base in Carlifonia, USA, inDrive (formerly inDriver) is a global mobility and urban services platform that connects drivers and passengers and allows them to independently agree on all the terms of each trip.

It was named the fastest-growing international ride-hailing app in 2022 with 61.8 million downloads by research firm data.ai. The app downloads jumped 45% YoY to become the second-most downloaded ride-hailing app worldwide based on Google Play and App Store data and the most downloaded ride-hailing app in 11 regions across the world, including Morocco, Peru, and Nepal.

In addition, the company saw 88% revenue growth in 2022 reaching 47 countries and expanding its team to 2,700 employees across 17 offices worldwide. In the same year, it launched new verticals,  to expand its offerings beyond passenger and cargo transportation, delivery, and handyman services to also include job classifieds and other services.