FEATURE: FINANCIAL SERVICES
About R2
Founded in 2020, R2 enables payment processors, POS systems and marketplaces to provide financing to small businesses via its API. R2 is backed by General Catalyst, Gradient Ventures, Y Combinator, Femsa Ventures and others and recently secured a US $ 100 million credit line in Mexico.
About inDrive
inDrive is a global mobility and urban services platform with over 280 million app downloads. It offers ride-hailing, intercity transportation, delivery and financial services. It operates in 888 cities across 48 countries and aims to impact one billion people by 2030 through fair pricing and its nonprofit arm, inVision, which supports community empowerment programmes.
Drivers give consent for their data to be shared with third parties. Once scored, inDrive creates personalized loan offers directly in the app. The experience is fully embedded, from application to disbursement, with no need to leave the platform.
Repayments are automatically deducted in small increments from ride earnings, or drivers can repay directly to R2 if preferred.
How was this technology implemented?
R2’ S PLATFORM USES ADVANCED ANALYTICS AND AI TO SCORE DATA SUCH AS RIDE FREQUENCY, INCOME CONSISTENCY AND APP ACTIVITY.
Implementation was a phased collaboration requiring adaptation on both sides. Originally designed for SME financing, R2’ s platform was re-engineered for a mobilefirst, gig economy user base. Key developments included secure real-time data transfer and automated repayment protocols, powered by inDrive’ s new tech stack, Ayan.
Following success in Mexico, expansion to Colombia and Peru brought new challenges, including adapting to various data sources and operational environments. Both teams worked to minimize manual intervention and maximize use of existing data for a seamless experience. p
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