KUALA LUMPUR: Ride-hailing firm inDrive is projecting significant growth in the Malaysian market, expecting the number of drivers in its ecosystem to double from the current 10,000 by the end of 2024.

Group president and deputy chief executive officer Mark Loughran told Bernama that inDrive was the fourth most downloaded ride-hailing app in Malaysia last year, and is currently the world's second most downloaded ride-hailing app.

"This growth can be attributed to the increasing interest in inDrive's unique fare-bidding system, which allows both riders and drivers to bid for a mutually agreed price," he said.

Although still in its early stages, Loughran believes that this feature has tremendous potential to enhance access to affordable transportation, while driving future growth of the app and its operations.

"We now cover major cities across the country, including Kuala Lumpur, Penang, and Johor Bahru, as well as Kuching, Miri, Sibu, Bintulu and Kota Kinabalu in East Malaysia, providing accessible and affordable ride-hailing services," he added.

inDrive also foresees its courier and intercity services becoming major contributors to its revenue streams, in addition to its core ride-hailing service.

"We offer a diverse range of services to cater to various customer needs, allowing us to capture a larger share of the market," he said.

The app also offers in-app specialist services, allowing users to request professionals for tasks such as repairs and construction, appliance installation and repair, cleaning, pet services, professional services, tutorials and training as well as computer and information technology (IT) services.

"We will continuously analyse market trends and customer feedback to enhance and expand our offerings in this area, while customers continue to enjoy our familiar bidding model that guarantees a price that is fair to all parties involved," he said.

TAGS: inDrive, Expansion, Ride-hailing, Courier, Specialist services