Rapido Secures $240 Million in New Funding at $3 Billion Valuation Led by Prosus
Rapido Raises $240 Million in Fresh Funding, Valued at $3 Billion Post-Money
Ride-hailing platform Rapido has secured $240 million in fresh primary funding, led by Prosus, valuing the company at $3 billion on a post-money basis, according to a statement released on May 15. This significant investment is part of a larger $730 million primary and secondary financing exercise undertaken by the company.
The funding round saw participation from existing investors, including WestBridge Capital and Accel, among others. This marks a major milestone in Rapido's journey to solidify its position in India's mobility market. Founded in 2015, Rapido operates bike taxis, auto-rickshaw, and cab services, and has expanded aggressively across Indian cities in recent years.
Rapido has positioned itself as a low-cost mobility platform while also prioritizing driver livelihoods. The fresh capital comes at a time when competition in India's ride-hailing sector is increasing, with companies expanding into newer mobility categories and hyperlocal transport services.
With the new investment, Rapido plans to scale its operations, deepen market penetration, and continue building its mobility ecosystem across the country. This strategic move is expected to further strengthen the company's position in the Indian market.
| Company | Funding Raised | Valuation (Post-Money) |
|---|---|---|
| Rapido | $240 million | $3 billion |
| Total Funding | $730 million | - |
Note: The table above highlights the key figures from the funding round.
Investor Takeaway
Investors should consider the growth potential of ride-hailing platforms in India.
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