JAKARTA, INDONESIA, March 3, 2025 – InDrive, a global mobility and urban services platform, has launched its inaugural fintech service in the Asia-Pacific region with the introduction of inDrive.Money in Indonesia. This initiative is in collaboration with Fingular, a Singapore-based financial group, and Ammana, an Indonesian licensed Sharia peer-to-peer lending platform. The service aims to provide drivers with accessible financial support.
Through the inDrive app, drivers can apply for cash funding of up to 10 million Rp, provided by Ammana, and repay it conveniently through their rides. The initiative follows successful rollouts in Mexico and Colombia, positioning Indonesia as the first market in the region to benefit from this service.
Addressing Financial Barriers for Gig Workers
Gig workers, including ride-hailing drivers, often face challenges in securing financing due to their informal employment status. Traditional financial institutions typically require proof of income, which many drivers cannot provide, leading them to rely on high-cost alternative lenders.
To bridge this gap, inDrive and Fingular have introduced a transparent and accessible financial solution tailored to the needs of gig workers. The service integrates directly into the inDrive app, allowing drivers to receive funding for urgent expenses, such as vehicle repairs and daily necessities, with flexible repayment options.
Drivers repay their loans through ride commissions, ranging between 10-15% per trip, with a repayment period of three to five months. The model assesses drivers’ creditworthiness based on ride frequency, monthly income, and other key data points, allowing for fairer and more personalized loan terms.
Strong Demand and Positive Reception
According to an inDrive driver survey, 80% of drivers expressed interest in the sector-specific financial product after receiving promotional offers. The pilot phase, which began in late 2024, allowed inDrive and Fingular to refine their embedded financing technology based on local drivers’ needs.
The service has now expanded to multiple Indonesian cities, including Jakarta, Bandung, Surabaya, Bali Island, Makassar, Palembang, Pematangsiantar, and Bukittinggi, among others. Drivers who accessed the funding reported higher engagement and retention, describing it as a lifeline during unexpected financial hardships.
Industry Leaders Speak on the Initiative
Mark Loughran, Group President at inDrive, emphasized the company’s commitment to financial inclusivity, “We’ve already disrupted the ride-hailing industry by introducing a people-centric pricing model that allows passengers and drivers to negotiate fares. Now, we are addressing a similar challenge in financial services, where gig workers are often excluded due to outdated credit scoring models.”
Maxim Chernuschenko, CEO of Fingular, added, “We are excited to support inDrive in our shared mission to challenge financial injustice by offering accessible, transparent, and people-centric financial technologies.”
Vadim Gurinov, a strategic backer of Fingular, further highlighted the partnership’s long-term vision, “This collaboration is not just about short-term financial solutions but about building a future where innovation and financial inclusion drive every decision.”
Future Growth and Expansion
Indonesia remains a key strategic market for inDrive, with the company planning further expansion in ride-hailing and urban services. With the successful introduction of inDrive.Money, inDrive is set to continue its efforts in empowering drivers through innovative financial solutions.