With FY25 revenue crossing Rs 1,000 crore and net losses narrowing by nearly 30 per cent, Rapido sharpens its focus on scale, efficiency, and new growth avenues
Swiggy-backed ride-hailing unicorn Rapido has surpassed Rs 900 crore in revenue for FY25 while reducing its net loss by around 30 per cent, reflecting improved operating efficiency as its mobility and delivery businesses scaled up.
Roppen Transportation Services, which runs Rapido, posted operating revenue of Rs 934.4 crore, up 44 per cent from Rs 648.1 crore in FY24. Including other income, total revenue reached Rs 1,002.9 crore. Net loss fell to Rs 258.4 crore from Rs 370.7 crore, even as total expenses rose to Rs 1,261.3 crore.
“Revenue growth outpacing expenses helped Rapido achieve stronger operating leverage,” the company said. Employee costs increased to Rs 207 crore due to higher headcount and stock-based compensation, while other costs, including rider incentives, marketing, and platform maintenance, rose to Rs 1,048.7 crore.
Founded in 2015 by Aravind Sanka, Pavan Guntupalli, and Rishikesh SR, Rapido operates bike taxis, auto-rickshaws, cabs, and hyperlocal deliveries across 500+ cities, completing about 4 million rides a month for nearly 30 million users. It competes with Ola, Uber, and Namma Yatri.
Rapido became a unicorn in July 2024 after raising USD 120 million in a Series E round led by WestBridge Capital. Earlier, it raised USD 180 million in a Series D round led by Swiggy, with participation from TVS Motor, Shell Ventures, Nexus, and WestBridge.
The company has also introduced Ownly, a zero-commission food delivery platform in Bengaluru’s Koramangala, HSR Layout, and BTM Layout. Ownly aims to provide offline-equivalent pricing for customers while helping restaurants avoid high platform fees. Rapido plans to leverage its bike taxi network to fulfil orders and expand the service gradually.
Investor activity is picking up too. TVS Motor will sell Rs 287.93 crore in shares to Accel and Prosus as part of a strategic deal, according to a stock exchange filing.
