Name-your-price rideshare company InDrive launches in U.S.

InDrive, a rideshare company operating in 48 countries, is making its debut in the United States, starting in South Florida.

The company, formerly known as InDriver, uses a bid-based business model: riders input pickup and drop-off locations and propose a fee and then drivers can either accept or counter-offer.

The company said it is also different than competitors such as Uber and Lyft because its fee is lower, averaging between 10- and 20% - and it does not use strategies such as surge pricing. Uber and Lyft do not disclose specific fees, but most estimates put both companies in the range of 20 to 25%.

InDrive operations manager Eddy Velázquez said the company picked South Florida as its first market in the U.S. in part because the brand already has name recognition there.

“We’ve been very successful in Latin America and Central America – and there’s a large demographic here in South Florida that matches our consumer base,” he said.

“They’ve driven in their countries and also ridden in their countries and now they come here to South Florida, and it’s something they recognize.”

Launched in 2013, InDrive raised $150 million in February in debt financing from General Catalyst, and it had raised a Series C round of $150 million in early 2021 that valued the company at $1.23 billion.

Based in California, InDrive says it operates in more than 655 cities, and Velázquez said top performing countries include Mexico, Peru, Egypt, India, Ecuador and Pakistan.

The company also has a B2B segment that offers freight and courier delivery, and Velázquez said those services will be launched in the U.S. in the future.