inDrive, a global mobility and urban services platform, has successfully expanded into 10 countries in Latin America in less than eight months with payments orchestration support from Yuno.
This new milestone is announced at Web Summit Rio 2024, which launches today, and is set to welcome both Yuno CEO Juan Pablo Ortega and inDrive CEO Arsen Tomsky as speakers.
Yuno’s fast and reliable payment orchestration has enabled inDrive to streamline its payment processes, helping it overcome some of the unique challenges of the Latin American market, which include lower card acceptance rates and a sizable unbanked population reliant on alternative payment methods.
While inDrive previously relied on multiple payment providers, acquirers and banks to meet their needs, Yuno’s platform has integrated all payment providers into a single layer, helping save time, reduce risks and cut operational costs. Yuno integrates a wide variety of payment methods across the region, with over 300 integrated options worldwide, as well as offering innovative features such as one-click checkout, smart routing, and the integration of information from all payment processors and anti-fraud tools into a unified interface.
inDrive’s partnership with Yuno has enabled the company to quickly scale its ride-hailing operations in the region, with Brazil now close to becoming the company’s leading market by number of transactions. It has also contributed to a significant increase in inDrive’s global payment approval and recovery rates, to about 90% and more than 4.5%, respectively.
In addition to inDrive, Yuno serves customers including McDonald’s, Avianca, Rappi and others across 50 countries.
Juan Pablo Ortega, CEO & co-founder of Yuno, commented: “Our partnership with inDrive reflects our broader commitment to helping companies expand internationally by removing the roadblocks to seamless, secure, and reliable payments. By leveraging our advanced payment orchestration solutions, inDrive has been able to navigate the complexities of global commerce with ease, increasing user satisfaction and transaction security. We look forward to further supporting inDrive in realising their full growth potential on a global scale.”
Andrei Vashchenko, payments manager at inDrive, commented: “In partnering with Yuno, we have greatly strengthened our payment processing capabilities, enabling us to focus our attention on our core offering as we expand internationally. Yuno’s cutting-edge interface grants us access to a vast spectrum of local, regional, and global payment methods, enabling us to reduce operational costs by quickly integrating our preferred options, while its smart routing technology has helped us boost our payment approval rate to approximately 90%.”
Yuno, which was founded in 2022, recently raised $25 million in a Series A round by DST Global Partners, Andreessen Horowitz, Tiger Global, Kaszek Ventures and Monashees.
