inDrive - Afrikan Heroes

inDrive Launches Venture and M&A Arm

November 16, 2023

The global mobility and urban services platform inDrive has announced the launching of a new venture and M&A arm aiming to invest up to $100 million in promising startups. Seasoned entrepreneur and investment professional Andries Smit joins inDrive as Vice President of New Ventures.

New Ventures investments will focus on rapid growth and positive community impact with the following investment criteria:

A mission that challenges injustice, improving the lives of individuals and communities

Local market startups with potential for global expansion

Post-seed/pre-Series A companies with proven product market fit

Rapid organic growth

Healthy economics and cash flow

Andries Smit, Vice President of New Ventures at inDrive, says: “Once an underdog and now a global company, inDrive is certainly an investor to watch – the team has achieved rapid global growth while remaining committed to its mission of challenging injustice. By investing in emerging companies innovating to improve people’s lives, inDrive further strengthens its commitment to challenge injustice by helping successful, but overlooked startups. The company is uniquely positioned to do this, leveraging its presence and fast growth in these emerging markets that have much weaker access to capital markets than developed countries.

I’m thrilled to apply my own venture building and investing experience to help inDrive transform the lives of innovative founders hungry to scale up their successful businesses that contribute to a better world.”

inDrive’s New Ventures unit is dedicated to help investee and acquired companies scale quickly across inDrive’s platform. These companies are set to gain a competitive edge by tapping inDrive’s global multi-million customer base across 45+ markets, access to the company’s go-to-market know-how and technology.

Andries has held key strategic roles in both the startup and corporate organizations, leading business transformations, acquisitions and integrations at major corporations including Morgan Stanley, and Aviva. He has also built ventures as a partner at Stryber, a leading strategic growth partner and independent corporate venture builder in Europe, the Middle East, and the Asia-Pacific.

Mark Loughran, President of inDrive, says: “The mission at the heart of New Ventures is to find overlooked, high-growth startups that may be operating outside of traditional innovation hub regions, and support their development to increase their positive impact. Andries has a unique blend of corporate and venture building experience that makes him a perfect fit to lead New Ventures, and we are confident the energy and experience he brings will help us surpass our investment goals.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

inDrive Rolls Out Services in Bulawayo, After Harare Experience

September 19, 2023

Vincent Lilane, Business Development Representative for inDrive Africa

Following its positive experience in Harare, Zimbabwe’s capital, ride hailing company inDrive has announced the extension of its revolutionary peer-to-peer ride-hailing services to Bulawayo, Zimbabwe. Following an overwhelmingly positive reception in Harare, inDrive is excited to continue reshaping the transport landscape by rolling out its unique “Name Your Price” model in Bulawayo with a zero commission phase, emphasizing its dedication to fairness and transparency in the ride-hailing sector.

With its head office located in California, USA, inDrive’s penetration into the Zimbabwean market is a reaffirmation of the company’s commitment to enhancing the mobility options available for African residents. Bulawayo joins Harare in the list, making Zimbabwe the eighth African country to experience the innovative platform and one of over 700 cities globally to benefit from inDrive’s services.

inDrive’s standout feature is its dynamic pricing model that places the power in the hands of the users. Passengers suggest a fare for their intended journey, and drivers can accept, counter, or decline the offer, culminating in a mutually agreed-upon price. This peer-to-peer approach has been a game-changer in challenging unfair pricing practices, with inDrive now boasting over 175 million downloads and standing proudly as the second most downloaded mobility app on a global scale.

Safety remains a top priority for inDrive. All users – both passengers and drivers – undergo a stringent registration process. To combat anonymity, only those with verified documentation can utilize the platform, with personal data only shared with authorities upon official request. The platform incorporates safety features such as passenger ratings, travel address alerts, a Safety Center, an emergency SOS button, and a “Share the Ride Route” option. Any safety incidents reported are promptly investigated, with potential mental health support resources made available.

“We are beyond excited about our expansion into Bulawayo,” remarked Vincent Lilane, Business Development Representative for inDrive Africa. “Our platform is not just about transport; it’s about empowerment, transparency, and reshaping the way we think about mobility. We look forward to offering Bulawayo’s residents a safer, fairer, and more flexible transport solution.”