inDrive Launches Financial Service in Brazil to Support Gig Economy Drivers

inDrive, a global mobility platform operating in 48 countries, has introduced its financial service inDrive.Money to Brazil through a partnership with Latin American fintech EmpreX. The service provides drivers using the inDrive app with access to loans of up to R$3,000 (approximately USD 548), which can be applied for and repaid directly within the application. This initiative targets financial inclusion for gig workers who often face barriers to traditional banking services.

Alexander Kurchin, Head of Growth at inDrive.Money, emphasized the platform's mission to empower users with fair choices, noting Brazil as a key market with hundreds of thousands of driver partners reliant on the app for income. The launch builds on inDrive.Money's existing operations in Mexico, Colombia, and Peru, offering a proven financial tool designed to enhance economic independence and support daily livelihoods for drivers.

The loan structure allows approved borrowers an average term of five months until the first payment, with 10% to 14% of each ride's value automatically allocated toward repayment. This model eliminates fixed daily commitments, and drivers retain the option to make payments directly to EmpreX via https://emprex.com.br, providing flexibility to manage cash flow across platforms. Stefano Mazzaferro, Country Manager of inDrive in Brazil, highlighted that the service offers low-interest loans as a financially advantageous alternative to credit card-based solutions, reinforcing the company's commitment to fighting injustices and expanding choice for drivers.

EmpreX manages the assessment process, including scoring, terms, and regulatory compliance through its partnership with licensed Brazilian financial institution BMP SCD. Initial data indicates high driver satisfaction, with 86% of borrowers reporting they would take another loan and recommend the solution. The service is currently available in approximately 90 Brazilian cities, including major hubs like Manaus and Belo Horizonte, with plans to expand to all locations where inDrive operates.

Silvan Roth, CEO of EmpreX, stated that integrating credit directly into the inDrive app simplifies access to working capital, enabling drivers to address needs like vehicle repairs or fuel without resorting to high-interest informal loans. By embedding financial services into its platform, inDrive aims to combat economic disparities and contribute to broader financial inclusion and economic stability in Brazil.