inDrive Expands Financial Services With Its Latest Launch in Peru

inDrive, a mobility and urban services platform operating in 888 cities across 48 countries, is pleased to announce the launch of inDrive.Money in Peru. This marks the service’s fourth market of operation, aiming to drive greater financial inclusion for gig economy workers, including drivers and couriers. 

Gig economy workers often face challenges in accessing traditional lending services, due to their lack of established credit histories and payslips, which are used by traditional banks for credit scoring. To challenge this form of financial injustice, inDrive has made credit accessible via its app – the world’s second-most downloaded ride hailing app – with the launch of inDrive.Money.

inDrive.Money now operates in four countries, including Mexico, Colombia and Indonesia in addition to its newest market – Peru – where it has partnered with R2, a Latin American fintech specializing in financing for small and medium-sized businesses. Since its launch, inDrive.Money has facilitated the issuance of more than 100,000 loans across its markets of operation, and its lending volume continues to grow at pace, underscoring strong demand.

inDrive’s expansion into financial services is part of the company’s broader strategy to diversify its offering beyond ride hailing, as it transforms into a multi-services platform. Beyond contributing to revenue diversification, inDrive.Money has shown to play a positive role in increasing driver loyalty and retention and fueling higher Gross Merchandise Value (GMV), which represents the total value of all rides or deliveries facilitated through a platform before any deductions like fees or discounts. 

Mark Loughran, President of inDrive, commented: “At inDrive, we believe in empowering people with fair choices, and financial inclusion is a natural extension of this mission. For many of our drivers and couriers, income from the platform is essential for their livelihoods. We therefore recognize both the responsibility and the opportunity to create meaningful impact. These individuals are not just service providers – they are entrepreneurs managing their own businesses. By partnering with R2 to offer them loans, we are providing greater financial security and flexibility, ensuring that urgent expenses don’t disrupt their work or long-term plans. This allows them to focus on growth with confidence, knowing that they have the security and support to thrive.” 

Roger Larach, CEO of R2, added: “Building on the success of a similar program launched in Mexico and Colombia a few months ago, R2 is thrilled to announce the expansion of our partnership with inDrive. Peru is a key new market for R2, given its low banking penetration compared to the region. Approximately 50% of Peru’s adult population remains unbanked. At R2, we are committed to bridging this gap. Through our embedded solution within the inDrive platform, drivers across Peru will have quick, easy, and seamless access to capital. Unlike traditional credit programs that rely on banking history, we evaluate drivers based on their activity within the inDrive platform. By rewarding positive driving behavior, we aim to create a more inclusive and accessible financial ecosystem. This partnership represents a shared vision of empowering drivers and enhancing their financial well-being, and we’re excited to continue expanding our reach throughout Latin America.”