Finance
InDrive Eyes Financial Services To Bolster Presence In Developing Markets
InDrive president Mark Loughran
Ride-hailing company inDrive is exploring financial services products in the developing markets where it is active.
Mark Loughran, the company’s president and deputy CEO, who joined the company last summer, said that the move would enable greater financial stability for drivers on the platform.
InDrive was founded in Russia and is now headquartered in the U.S. Much of its business is in developing markets in Asia, Africa and Latin America but last year ventured into the U.S. market with a launch in Miami.
Loughran joined inDrive to grow these various parts of the business as well as develop new ones, including a $100 million program to support businesses in developing regions.
The move into financial services would be targeted at drivers in markets where there may be financial instability and strain.
“[It’s] for those drivers in the developing markets, when something happens in their family or maybe something happens to their vehicle or their bike or whatever and they need to fix it. We’ve been starting to look at financial services and options there, just piloting some ideas.”
The plans are at an early stage, Loughran said, but the company is looking at potential partnerships in these markets with services like lending in mind for drivers and delivery riders that need financing for cars or bikes.
“On the financial services side, it’s more helping with thinking about access to financial services, like small term loans. You’re talking about people who would have previously no banking credibility at all,” Loughran said.
“They wouldn’t be able to do that, where they’d have to go for a loan is not a good option for them or their families. So [we’re] looking at different ways that we could support them, we’re testing it on a very small scale.”
The model of providing financial services, namely loans, to delivery and ride-hailing companies is not a new one with fintech start-ups popping up in recent years to address that market. This includes Moove, which is active in Africa.
“It’s back to our commitment to make sure that those increasing numbers of drivers can be supported, their earnings can be stable and also it can work for them financially, which is why we take the low percentage take rate versus our competitors,” Loughran said.
Late last year, inDrive launched a $100 million program to invest in businesses in emerging markets in a bid to further its presence there and support smaller enterprises. While inDrive has focused heavily on ride-hailing and deliveries in these developing regions, it launched in the U.S. last year with tentative steps into Miami.
InDrive differentiates itself from competitors like Uber and Lyft with its bidding model where passengers can negotiate a fee for their journey rather than a set price. InDrive takes up to 10% in commission, depending on the market.
Loughran said the U.S. expansion remains nascent with no immediate plans to move into other cities. Rather, the company is refining the Miami business and gathering data on its performance.
“It’s been probably four months or something [since the Miami launch]. It’s some period of time but not an enormous period of time. I think we just need to continue with that model and obviously look at is it sustainable? Will it continue to grow into next year with the same enthusiasm as it started? How does the profitability look?” he said.
“The cost of doing business in the U.S. is very different from some of the other markets. This is our chance to learn that and make sure we get the whole offering correct.”
The company would not disclose any driver or passenger numbers in Miami.
Loughran is a former executive at Microsoft and Honeywell and joined inDrive in July 2023 while the company raised $150 million in funding almost a year ago to expand the business’s geographic footprint and its other verticals like delivery.
InDrive does not disclose any revenue figures but Loughran said that the company is “on a good track” to profitability.
“Now it’s about us making sure that we get to the right level of scale to make sure that the investment that we’ve got in our central tech stacks and everything else can then be absorbed by the number of the rides. We’ve got a very strong focus on that, we’re certainly on a path to that, so I would be positive about our path to that.”
Finance
Sports betting should be regulated as a financial product, not gambling, aspiring prediction market provider says
MIAMI BEACH, Fla. — Sports betting should be regulated as a federal financial product rather than a state-licensed casino product, two panelists said Thursday.
Appearing at Consensus Miami 2026, Jacob Fortinsky, co-founder and CEO of sports betting platform Novig, said the legacy sportsbook model is structurally broken because it treats winning bettors as cheaters.
“Sports betting is really the only industry in the country that regularly limits and bans their power users,” Fortinsky said. He framed sports event contracts as binary financial instruments that “for so long have been treated as a gambling product and instead should really be treated as a financial product.” Globally, he said, sports betting is “a $2 trillion asset class still dominated by these legacy casinos.”
Adam Mastrelli, founder of 57 Maiden, a firm that builds AI-driven trading strategies for prediction markets, validated the critique with personal experience.
“My partner and I got kicked off of two big sportsbooks within two months of trading because we were sharp,” he said, It’s like “LeBron James getting kicked out of the NBA for being too good,” he added.
Mastrelli said the team turned to Novig, which he said charges no fees and allows traders to create synthetic positions.
Mastrelli said his firm’s edge decayed quickly, and of 154 proposed trading strategies, only three currently run profitably.
“This edge will go away,” he said, “so if you can build systems that can keep up with that edge and that alpha… then it becomes really, really intriguing.” His most profitable season, he said, was the WNBA.
Fortinsky said Novig is on track to transition this summer from a sweepstakes model live in 35 states to a federal DCM framework that will let it operate in all 50 states. An earlier attempt to be regulated at the state level in Colorado, he said, was a wake-up call. “Regulators told us essentially you’re naive if you think we care about consumer protection or innovation or market efficiency. We really just care about our tax revenue,” he said.
The federal-state fight, Fortinsky added, is “going to get to the Supreme Court in the next two or three years,” with 15 pending lawsuits between the Commodity Futures Trading Commission, Kalshi, Robinhood and various states. Within prediction markets, he argued sports is “counterintuitively actually the safest vertical,” given the bigger insider-trading and manipulation concerns around political and event-driven contracts.
Mastrelli, who said he avoids offshore platforms entirely, compared prediction markets to equities exchanges: “When I see a robust equities market now, this is AQR against SIG. It doesn’t go away.”
Harley-Davidson’s new CEO wants to transform how people think about the iconic motorcycle brand, so the company is trying something different.
This week, Harley announced a new strategy that focuses on lower-priced bikes, rather than relying on older, more affluent customers to buy its higher-margin touring models.
“Back to the Bricks builds on our core strengths and competitive advantages, harnessing the passion of our riders to deliver profitable growth for the Company and both our dealers and shareholders,” Harley CEO Artie Starrs said this week. “As we drive towards this new phase of growth, we remain committed to the craftsmanship and dedication that define our brand.”
Entry-level Harley-Davidsons cost about $13,000, while the higher-end Adventure Touring models average about $23,250, and the Premium Range &CVO models cost about $38,500, according to Reuters.
Harley’s new strategy targets a core profit of over $350 million from its motorcycle business by 2027 and over $150 million in cost reductions.
To kick off the new strategy, Harley is introducing Sprint, a new entry-level model powered by a smaller 440cc engine, later in the year.
What is Harley-Davidson’s “Back to the Bricks” strategy?
Harley’s new strategy relies on more than just pushing buyers toward cheaper vehicles to increase volume. The 123-year-old company has a set of five pillars on which it is building its future.
Harley-Davidson “Back to the Bricks” 5-point plan
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Deep appreciation of Harley-Davidson’s competitive advantages and legacy: The Company’s iconic brand, diversified and powerful revenue channels, and best-in-class dealer network provide a powerful foundation for growth.
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Renewed commitment to exclusive dealer network to drive enterprise profitability: Harley-Davidson’s dealers are a competitive advantage. The Company is planning actions to enable dealers to double profitability in 2026 and then double it again by 2029.
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Immediate actions to recapture share in areas where Harley-Davidson has right to win: Harley-Davidson has strong legacy equity in existing markets including new motorcycles, used motorcycles, Parts & Accessories, and Apparel & Licensing. The Company’s new strategy is focused on positioning the Company to regain share and drive meaningful volume growth in categories where it benefits from credibility, scale, and deep rider connection.
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Strong financial position with a path to stronger free cash flow and EBITDA margin: Cost and restructuring actions already underway support a path to stronger free cash flow and EBITDA margin over time.
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Bolstered management team with balance of fresh perspectives and institutional knowledge: Harley-Davidson has made a number of leadership appointments that support the Company as it leverages its innate strengths.
Written by Jitendra Parashar at The Motley Fool Canada
Dividend investing can be one of the simplest ways to build long-term wealth while creating a steady stream of passive income. But in my opinion, a good dividend stock is about much more than just a high yield. Beyond dividend yield, investors should also look for companies with durable businesses, reliable cash flows, and a history of rewarding shareholders consistently over time.
That’s exactly why many investors turn to financial stocks. Banks and asset managers often generate recurring earnings through lending, investing, and wealth management activities, allowing them to support stable dividend payments even during uncertain market conditions.
Two Canadian financial stocks that stand out right now are AGF Management (TSX:AGF.B) and Toronto-Dominion Bank (TSX:TD). Both companies offer attractive dividends backed by solid financial performance and long-term growth strategies. In this article, I’ll explain why these two financial stocks could be worth considering for income-focused investors right now.
AGF Management stock continues to reward shareholders
AGF Management is a Toronto-based asset manager with businesses across investments, private markets, and wealth management. Through these divisions, the company offers equity, fixed income, alternative, and multi-asset investment strategies to retail, institutional, and private wealth clients.
Following a 59% rally over the last 12 months, AGF stock currently trades at $16.67 per share with a market cap of roughly $1.1 billion. At current levels, the stock offers a quarterly dividend yield of 3.3%.
One reason behind AGF’s strong recent performance is its increasingly diversified business model. The company has expanded its investment capabilities and broadened its geographic reach, helping it perform well across varying market environments.
In the first quarter of its fiscal 2026 (ended in February), AGF posted free cash flow of $36 million, up 14% year over year (YoY), driven mainly by higher management, advisory, and administration fees. These fees climbed to $92.5 million as demand for the company’s investment offerings strengthened.
AGF has also been focusing on expanding its alternative investment business and introducing new investment products. With strong cash generation and growing demand for alternative investments, AGF Management looks well-positioned to continue rewarding investors over the long term.
TD Bank stock remains a dependable dividend giant
Toronto-Dominion Bank, or TD Bank, is one of North America’s largest banks, serving millions of customers through its Canadian banking, U.S. retail banking, wealth management and insurance, and wholesale banking operations.
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