Bargain-your-ride e-hailing service inDrive will use its latest $150 million financing from venture capital firmAccording to a statement, the company intends to utilise the funds to enhance its product offerings, broaden its services and venture into new markets across Africa.
The financing comes in the form of a debt instrument, and follows a good year for inDrive, which saw 54% growth in net revenue in 2023, it says. “This financial structure is designed to support our ambitious plans without introducing additional risk to our operations. We are grateful for the confidence General Catalyst has shown in our mission and strategy, as we strive to make mobility accessible for communities around the globe."
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