inDrive, a global mobility and urban services platform, has launched its financial service, inDrive.Money, in Indonesia, marking its first venture into the Asia-Pacific (APAC) market. This initiative, in collaboration with Singapore-based financial group Fingular and Indonesian Sharia peer-to-peer lending platform Ammana, aims to provide drivers with access to cash funding of up to 10,000,000 Rp for urgent expenses like vehicle repairs and daily necessities.
The service addresses the challenges faced by gig workers in accessing traditional financial services, which often require proof of income. By integrating a fair and transparent financial service directly into the inDrive app, drivers can repay the funding through their rides with a commission of 10% to 15% over a three to five-month period. Mark Loughran, Group President at inDrive, stated, “We are now addressing a similar injustice in financial services, where gig workers are often excluded due to legacy credit scoring models that do not accommodate their needs.”
The pilot phase, which began in late 2024, has shown promising results, with 80% of surveyed drivers expressing interest in the service. The rollout has expanded to major Indonesian cities, including Jakarta, Surabaya, and Bali Island. Maxim Chernuschenko, CEO of Fingular, expressed enthusiasm for the partnership, highlighting the mission to challenge financial injustice with accessible and transparent technologies.
Looking ahead, inDrive sees Indonesia as a strategic market with plans to further expand its urban service offerings, reinforcing its commitment to supporting local communities through innovative solutions.
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