The mobility platform’s latest fundraise values the company at USD 3 billion and will support expansion across tier 2 and 3 markets, technology investments and captain network growth
Rapido has raised USD 240 million in fresh capital in a funding round led by Prosus, as the mobility platform looks to expand deeper into non-metro markets and strengthen its multi-modal transport network across India.
The round also saw participation from existing investors WestBridge Capital, Accel and others. The transaction values the company at USD 3 billion on a post-money basis.
The Bengaluru-based company said the latest investment forms part of a broader USD 730 million primary and secondary financing round.
Founded in 2015, Rapido operates in more than 400 cities and offers bike taxis, auto-rickshaws, cab services, parcel deliveries, food delivery and flight bookings through its platform.
Expansion Focus
The company said the fresh capital will be deployed towards expanding demand across existing and new markets, strengthening its captain network and investing in technology and talent.
“At Rapido, we have always believed that the true measure of mobility is not only the rides completed but also livelihoods created,” said Aravind Sanka.
“This investment is about accelerating our ability to unlock both these structurally. We are going deeper into markets where demand exists, but supply remains fragmented,” Sanka added.
Rapido said demand across tier 2 and smaller cities is growing rapidly even as it continues to scale operations in larger metro markets.
Investor Confidence
Commenting on the investment, Ashutosh Sharma said mobility is emerging as a key layer within India’s digital economy. “Our investment reflects a strong conviction in Rapido’s ability to scale sustainably while addressing real, large-scale challenges around access and livelihoods,” Sharma said.
Sumir Chadha said Rapido had evolved into a “category-defining platform” in urban mobility with growing consumer adoption across cities.
Abhinav Chaturvedi said the company’s technology-driven marketplace and supply network positioned it well for long-term growth.
Rapido said it will also continue focusing on women captain onboarding initiatives and improving safety and accessibility for women riders as part of its next phase of expansion.
