Ride-hailing platform inDrive has secured an additional $150 million in funding from venture capital firm General Catalyst.
This funding boost will allow inDrive to accelerate its growth, invest in product improvements, expand its service offerings, and enter new markets.
“This financing from General Catalyst allows us to sustain our rapid growth and innovation,” said Dmitry Sedov, Chief Financial Officer (CFO) of inDrive. “It strengthens our financial position and flexibility as we execute on our ambitious plans for global expansion.”
General Catalyst is a long-time supporter of inDrive, recognizing the company’s mission to make mobility accessible worldwide.
Last year, they supported the firm with similar amount.
“We are excited to help them continue to scale their growth and set the company up for success as they enter new markets,” said Pranav Singhvi, Managing Director at General Catalyst.
This news comes after a stellar year for inDrive, with a 54% increase in net revenue in 2023.
The company, currently operating in nearly 50 countries with a focus on emerging markets, is well-positioned to capitalize on this new funding and continue its impressive growth trajectory.