The reports state that Rapido has finalised online food delivery terms and partnership costs with restaurants at almost half the commission charged by the two rivals
As the ride-hailing app is set to foray into food delivery, Nexus Venture Partners will invest Rs 125 crore in Rapido as part of a large financing round last year, as per the reports, which cited the data from the Registrar of Companies (RoC) filing.
The report noted that WestBridge Capital led Rapido’s USD 200 million funding round last year. This was followed by a USD 30 million investment by Prosus. In an attempt to counter the market dominance by Swiggy and Zomato, Rapido has finalised online food delivery terms and partnership costs with restaurants at almost half the commission charged by the two rivals, as per the media reports.
Rapido is likely to charge commissions in the range of 8 to 15 per cent, the reports noted. This is lower when compared to the 16 to 30 per cent commission charged by the two food delivery majors, the reports added. As per the partnership terms, for orders below Rs 400, Rapido will charge a fixed fee of Rs 25.
The structure is aimed at helping the restaurants arrive at a solution which is more economical and democratic for them to sustain. The reports added that the restaurants have been calling out what they describe as steep charges levied by the two delivery giants.
