Rapido raises $240 million in primary funding led by Prosus, valuation at $3 billion

The transaction, which includes both primary and secondary components, takes the total capital raised by the company to about $730 million. The latest round values Rapido at a post-money valuation of $3 billion.

Focus on expansion across Tier 2+ markets

According to the company, the fresh capital will be used to expand its presence in high-growth markets beyond major metros, deepen its supply network of driver-partners, and invest in technology and talent. Rapido also plans to strengthen first- and last-mile connectivity services and improve platform efficiency.

The company operates across more than 400 cities and offers multiple mobility services including bike taxis, auto-rickshaws, and cab aggregation, along with adjacent services such as deliveries and travel-related offerings.

Investor outlook

Investors participating in the round said the funding reflects confidence in Rapido’s position in India’s mobility sector and its ability to scale a supply-led platform focused on affordability and access.

Prosus said mobility is emerging as a key layer in India’s digital economy, while WestBridge Capital highlighted Rapido’s growth and consumer adoption across cities. Accel described the company as building a high-frequency hyperlocal network with strong marketplace effects.

Livelihood and platform expansion strategy

Rapido said it continues to position itself as both a mobility and livelihood platform, emphasizing opportunities for driver-partners and broader participation in the gig economy. The company also indicated a continued focus on expanding its network of “captains” and improving earnings stability through higher demand density.

Company background

Founded in 2015, Rapido has expanded rapidly across India’s urban and semi-urban markets and claims a significant presence in the first- and last-mile mobility segment.