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inDrive Secures $150 Million to Fuel Growth and Market Expansion

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.”

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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.

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“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.

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Diana Mutheu
Diana Mutheu
Diana Mutheu is a Tech enthusiast, happy to delve deeper into the African tech space covering Social Media, AI, Startups, Telcos, Cryptocurrency, Big Data, Women in Tech and all matters Tech.

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