inDrive Delays inDrive.Money Launch in Nigeria

Beulah Godfrey

April 29, 2025
3 min read

Despite complaints from Nigerian ride-hailing drivers about low income and financial stress, inDrive has confirmed it will not introduce its credit service, inDrive.Money, in Nigeria, anytime soon. A company spokesperson revealed this in a chat with Technext.

The company recently launched inDrive.Money in Peru, working with R2, a Latin American fintech that offers loans to small businesses. This launch marked the fourth country where inDrive.Money now operates. Other countries include Mexico, Colombia, and Indonesia.

In January 2024, the company announced plans to roll out loans for drivers in several African countries, including Nigeria, Kenya, Ghana, Tanzania, Namibia, and Botswana. The aim was to help drivers manage financial struggles, especially those related to car repairs and day-to-day expenses.

However, when asked about plans for Nigeria, the company said there is no timeline for launching inDrive.Money in the country. The spokesperson explained that although inDrive sees strong potential in Nigeria, the credit service remains focused on Latin American markets for now.

inDrive Expands Beyond Ride-Hailing

inDrive created inDrive.Money is part of its plan to grow into a multi-service platform. The company wants to offer more than ride-hailing by helping drivers and couriers gain access to fair financial services.

So far, inDrive.Money has provided over 100,000 loans in its active markets. The service has grown fast, showing strong demand from gig workers who need financial support.

Mark Loughran, President of inDrive, said the service helps drivers manage their finances better. He said the company wants to give people more control over their money, especially those who rely on ride-hailing as their main income. Loughran added that drivers are entrepreneurs, not just workers, and need tools to support their business growth.

More Ride-Hailing Companies Offer Financial Services

Other ride-hailing companies are also adding loan features. In May 2024, Bolt launched short-term loans for its drivers in Nigeria. Bolt partnered with Advancly, a credit tech company, to roll out the feature. Drivers can now apply for loans based on their reward level—Silver, Gold, or Platinum. The higher the level, the more money they can borrow.

Uber has not launched loans for its drivers, but in May 2024, it introduced Flex Pay. This new feature allows drivers to get paid daily through their mobile wallets instead of waiting for weekly payments.

Although inDrive has not launched its credit service in Nigeria, if it does in the future, it would join other ride-hailing apps already offering financial tools. It remains to be seen how these services will perform in Nigeria’s tough market.