inDrive Launches inDrive Money Financial Services in Colombia

Ride-hailing platform inDrive has launched inDrive Money in Colombia, expanding beyond transportation into financial services. The move sees inDrive offer payment and financial products to its driver and rider base in one of Latin America's key markets.

inDrive Money provides financial services including digital wallets, payments and potentially lending products, leveraging the company's existing relationship with millions of drivers and passengers in Colombia.

The financial services launch follows a strategy pioneered by companies like Uber, Grab and Gojek, where ride-hailing platforms leverage their user base and transaction data to offer embedded financial products.