Uber To Shift Into Financial Services

Uber, the car-sharing app that has taken the world by storm, is planning to expand its reach in the coming months. The company

on Wednesday that it would begin piloting a leasing program that will allow new drivers to borrow from its newly developed leasing subsidiary in order to obtain a car. The move will end Uber's partnership with

, and is expected to generate a significant new revenue stream for the growing company.

Recognizing the need for a growing base of drivers, Uber began helping potential drivers get cars back in November 2013, when the company arranged discounts with certain car manufacturers. The program fell short of Uber's hopes of financing 100,000 drivers, but around 20,000 drivers have used the discount program so far.

Uber has found itself bogged down by regulators in the 57 different countries it operates inside of. Safety, driver treatment and taxi protests have all played a role in stifling Uber's growth, though the company has continued to expand despite its many challenges. Now, some say the company is throwing itself into another complicated sector filled with regulations and red tape.

To begin with, Uber has set up a subsidiary company which will be responsible for maintaining drivers' leases. The setup means that Uber's driving service will operate independently from its leasing arm, so changes to drivers' pay won't have any impact on leasing terms and the lease transactions will stay off of Uber's books. However, the most expect that once the program has been fully developed, that format could change.