inDrive has appointed Abhey Lamba as Chief Financial Officer, joining the mobility and delivery platform as it operates across 48 countries.
Lamba joins the executive team from RingCentral, where he was Chief Financial Officer. Earlier, he was Vice President of Infrastructure Finance at Amazon Web Services and held senior finance roles at Cisco and Autodesk.
His background also includes 15 years as an equity analyst at Mizuho Securities, UBS and ISI Group, advising institutional investors and supporting technology companies on financial strategy and investor engagement. He began his career as a software engineer and holds degrees from IIT Bombay, the University of Connecticut and The Wharton School.
At inDrive, Lamba will lead the global finance function, overseeing financial planning and reporting, accounting, tax and investor relations. The appointment comes as the company expands beyond ride-hailing into delivery, freight, advertising and financial services for drivers.
The move follows a year of growth. inDrive reported gross bookings of USD $6.4 billion, up about 30% year on year, and revenue of USD $601.6 million, up 31%, while also posting positive adjusted EBITDA and net income.
The app has been downloaded more than 400 million times since launch. inDrive was also the world's second most downloaded ride-hailing app for the fourth consecutive year and the fourth most downloaded app globally in the travel category.
Finance role
The appointment adds another senior executive to the leadership team following the recent arrival of Sidd Mantri as Chief Product Officer. It also gives inDrive a finance chief with experience at listed technology companies and in cloud infrastructure.
RingCentral, where Lamba most recently worked, is a US cloud communications company. At Amazon Web Services, he oversaw infrastructure finance, a role closely tied to capital allocation and large-scale operations.
That experience is likely to be relevant as inDrive expands across multiple service lines and geographies. The company operates in more than 1,100 cities, with much of its footprint in emerging and frontier markets.
Lamba commented on his appointment in a statement.
"inDrive has built something rare: a profitable, mission-led business operating at meaningful scale across some of the world's most dynamic markets, with fairness wired into how it serves drivers and riders. I'm joining at a moment where strong fundamentals and a great team are in place to compound that advantage. I look forward to partnering with Arsen and the leadership team to build the financial discipline and governance to support inDrive's next chapter," said Abhey Lamba, Chief Financial Officer at inDrive.
Chief Executive Officer Arsen Tomsky said the company is seeking to strengthen its senior management bench as it grows.
"I'm very pleased to welcome Abhey to the company. He brings deep expertise in a variety of strategic leadership roles across the finance organisation, including financial planning and analysis, investor relations, and equity research. Following the recent addition of Sidd Mantri as Chief Product Officer, bringing in a CFO of Abhey's calibre reflects our confidence in where inDrive is headed and our commitment to building a senior management team that can take us there," said Arsen Tomsky, Chief Executive Officer at inDrive.
Growth push
inDrive has been expanding beyond its core ride-hailing business into what it describes as a broader app-based service platform. Alongside passenger transport, it now offers intercity transportation, courier services, grocery delivery and financial services in parts of its network.
The company's model differs from many ride-hailing rivals by allowing drivers and riders to agree a fare between themselves. That approach has been central to its positioning in markets where price sensitivity is high and smartphone-based transport platforms are still growing.
Recent financial figures suggest the expansion has coincided with greater scale and profitability. Positive adjusted EBITDA and net income mark a notable milestone for a company still investing in new services and market reach.
For investors and industry observers, the hiring of a seasoned finance executive may also signal a greater focus on governance, reporting discipline and capital planning as the business matures. Lamba's experience in investor relations and equity research could be relevant if inDrive seeks to raise its profile with financial markets.
The company operates across 48 countries and in more than 1,100 cities worldwide.