inDrive Secures Additional $150 Million From General Catalyst

<p><strong>MOUNTAIN VIEW<&sol;strong> &&num;8212&semi; inDrive&comma; a leading global mobility and urban services platform&comma; has expanded its financing arrangement with General Catalyst to &dollar;300 million&comma; up from the initial &dollar;150 million secured in 2023&period; The financing extension&comma; which can be further extended for an additional year&comma; enhances inDrive&&num;8217&semi;s financial flexibility&comma; enabling the company to bolster growth&comma; invest in product improvements&comma; expand its service offerings&comma; and enter new markets&period;<&sol;p>&NewLine;<p>inDrive is an international ride hailing service which is the second most downloaded app globally behind Uber&period;<&sol;p>&NewLine;<p>This announcement comes on the heels of a remarkable year for inDrive&comma; which reported a 54&percnt; growth in net revenue in 2023&period; Last year’s results continue to demonstrate the company&&num;8217&semi;s robust growth trajectory and its strategic utilisation of flexible financing to scale operations sustainably&period;<&sol;p>&NewLine;<p>Dmitry Sedov&comma; CFO at inDrive&comma; highlighted the strategic importance of this financing&colon; &&num;8220&semi;Securing this financing from General Catalyst empowers us to continue our rapid growth and innovation while maintaining a strong financial position and financial flexibility&period; This financial structure is designed to support our ambitious plans without introducing additional risk to our operations&period; We are grateful for the confidence General Catalyst has shown in our mission and strategy&comma; as we strive to make mobility accessible for communities around the globe&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Pranav Singhvi&comma; Managing Director&comma; General Catalyst said&colon; &OpenCurlyDoubleQuote;As long time partners with inDrive&comma; we are excited to help them continue to scale their growth and set the company up for success as they enter new markets&period; We are enthusiastic about supporting a business with a robust mission that positively impacts communities globally”&period;<&sol;p>&NewLine;