inDrive’s fresh injection from General Catalyst is expected to retain the business growth rate of up to 10% this year.
Heaptalk, Jakarta — A global mobility and urban services company based in Mountain View, California, inDrive, has obtained new funding worth US$150 million, or nearly Rp2.28 trillion, in the form of an innovative hybrid instrument of the General Catalyst.
Prior to this investment, General Catalyst also backed a Series C investment round worth US$150 million, which led by Insight Partners in 2021. Through this newest capital injection, this ride-hailing startup will amplify its marketing strategy, acquire more users, and develop new business lines in the coming years.
Moreover, inDriver expects this new capital will sustainably grant additional financial flexibility for its business operations. Concurrently, this injection is also anticipated to preserve a business growth rate of up to 10% this year.
“We are delighted to welcome the General Catalyst as our strategic investor. This investment would enable us to double the company’s business growth, enhance our offerings, and expand new business units. We are in a stable financial condition and contain a proper financing instruments preference that matches the requisites,” voiced the Founder and CEO of inDrive, Arsen Tomsky.
InDriver has provided various services, spanning inter-city transportation, cargo delivery, and household work service. The startup also has expanded its new business lines by adding offerings, including a job search advertisement and group purchasing services. Apart from developing new services for its users, this startup also recorded multiple business achievements in a similar year, consisting of:
- Closing its gross profit enhancement up to 88% YoY,
- Expanding its business operations into 47 countries, compared to the former only 37 countries
- Augmenting the employees’ number of 1,000 people, becoming 2,700 workforces spread in the 17 offices worldwide
- Encountering an increase in application downloads up to 45% YoY, or approximately 61.8 million users in 2022, compared to a former record of 42.6 million in 2021, according to the data.ai report.
General Catalyst’s Representative stated, “We have great confidence for making this ride-hailing startup’s business development to be more sustainable. For this reason, this investment brings a positive impact, and we are firmly bolstered inDrive, with its remarkable mission to deliver plenty of benefits for communities worldwide.”
