inDrive obtains registration certification to operate in Mexico City

With this action, inDrive strengthens its presence in Latin America and globally while aiming to offer the “fairest” market rates.
INDRIVE - Stock Latam - Mayo 2023 - Day 4 - intercity-0164 1
INDRIVE – Stock Latam – Mayo 2023 – Day 4 – intercity-0164 1

inDrive, the global mobility and urban services platform, has obtained registration certification in Mexico City (CDMX). With this expansion, inDrive reaffirms its commitment to Mexico, a key country in its global growth, strengthening its presence in Latin America.

The platform has experienced a 30% increase in requested trips in the northern country and offers a category of Urban Rides with fair fares. Additionally, inDrive stands out for its focus on safety and its fare negotiation model among users. Globally, the app has been downloaded more than 175 million times and was the second most-downloaded mobility app in 2022.

inDrive is a global mobility and urban services platform headquartered in Mountain View, California, USA. The application has been downloaded over 175 million times and operates in over 40 countries worldwide, including Latin America.

According to data from ENIGH, in Mexico City, the average quarterly household expenditure on public transportation was USD $3,113 in 2021. At the same time, in the State of Mexico (EDOMEX), it was USD $2,293, allocating 15.2% and 19.6%, respectively, to transportation, ranking these categories third and second in the evaluated expenses. The Mexican shared rides market is expected to register a CAGR of 28% during the forecast period (2021 – 2026).

Average quarterly expenditure on public transportation in CDMX and State of Mexico-CepalAverage quarterly expenditure on public transportation in CDMX and State of Mexico-Cepal. (Source: Cepal)

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Average quarterly expenditure on public transportation in CDMX and State of Mexico-Cepal. (Source: Cepal)

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Average quarterly expenditure on public transportation in CDMX and State of Mexico-Cepal. (Source: Cepal)

inDrive’s expansion in Mexico and Latin America is relevant for investment funds as it represents an opportunity in the shared rides market in the region. The sustained growth of inDrive and its presence in more than 600 cities globally position the platform as an attractive option for investors interested in the technology and mobility sector in the region.

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