Arsen Tomsky’s Unicorn inDrive raised $150 million from US venture capital firm General Catalyst. The funds were raised using an “innovative hybrid instrument” that links debt repayment to company performance.
inDrive founder Arsen Tomsky discussed the deal on his social media page, and Bloomberg wrote about the funding raised by the startup.
inDrive raised $150 million from General Catalyst using an innovative hybrid tool that links debt payments to company performance.
“Given the market downturn, we had to choose between offering stock or something that would allow us not to price the company. Since we didn’t really need money, we decided to raise that funding,” said Dmitry Sedov, CFO of inDrive.
InDrive will use the funds to develop new products and finance marketing activities.
By the end of 2022, the inDrive taxi service increased its gross revenue by 88%, Sedov said. According to data.ai, the inDrive mobile app was downloaded 61.8 million times in 2022, 45% more than in 2021.
According to Crunchbase, inDrive’s total take, excluding the current round, is $237 million. The most recent round of $150 million in February 2021 valued inDrive at $1.23 billion.
Author:
Kirill Bilyk
Source: RB
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