HomeUSAinDrive Launches New Venture and M&A Arm to Invest Up to $100M...

inDrive Launches New Venture and M&A Arm to Invest Up to $100M in Promising Startups

Andries Smit, Vice President of New Ventures at inDrive
Andries Smit, Vice President of New Ventures at inDrive

inDrive, a Mountain View, California, USA-based global mobility and urban services platform, launched a new venture and M&A arm aiming to invest up to $100m in promising startups.

inDrive’s New Ventures unit is dedicated to help investee and acquired companies scale quickly across inDrive’s platform. These companies will tap inDrive’s global multi-million customer base across 45+ markets, and access to the company’s go-to-market know-how and technology.

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

Seasoned entrepreneur and investment professional Andries Smit joins inDrive as Vice President of New Ventures. Smit has held key strategic roles in both 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 strategic growth partner and independent corporate venture builder in Europe, the Middle East, and the Asia-Pacific.

inDrive is a global mobility and urban services platform, which, in addition to ride-hailing, provides a list of urban services, including intercity transportation, freight delivery, task assistance, courier delivery and employment search. The company operates in over 45 countries and supports local communities via its peer-to-peer pricing model and community empowerment programs, which help advance education, sports, arts and sciences, gender equality and other vital initiatives. The app has been downloaded over 200 million times.

VCWire

16/11/2023