Rapido Raises $240M from Prosus: Funding & Expansion

Mumbai, May 15 (PTI) Mobility platform Rapido on Friday announced raising USD 240 million in a funding round led by Dutch investment firm Prosus to expand demand by creating new markets and invest in technology.

WestBridge Capital and Accel, among other investors also participated in the funding round, Rapido (Roppen Transportation Services Pvt Ltd) said.

With this fresh capital infusion, the company has so far raised USD 730-million in primary and secondary financing. This transaction values the company at USD 3 billion on post-money basis, Rapido said.

"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, building the density that gives captains reliable, predictable earnings," said Aravind Sanka, Co-founder, Rapido.

Founded in 2015, Rapido operates in over 400 cities .


The platform, he said, will sharpen its focus on strengthening supply, building technologies, and expanding the multi-modal footprint, with far greater speed and intent.

The capital will be deployed to expand demand by creating new markets and deepening existing ones, grow the captain network and expand earning opportunities at scale, and invest in the technology and people that power both, the company said.

This includes deepening Rapido's footprint across high-growth markets, strengthening first and last-mile connectivity, and improving platform efficiency to deliver a more reliable and seamless experience, alongside focused investments in talent to support long-term scale.

According to Rapido, as India's growth shifts beyond metros, two structural gaps are becoming more pronounced: access to reliable, affordable mobility, and access to flexible, dignified earning opportunities.

This investment comes at a time when demand across tier 2+ markets is accelerating even as the company continues to deepen its mobility offering in tier 1 cities, Rapido said, adding it enables the company to expand its presence in these high-growth regions by unlocking new demand corridors while significantly expanding livelihood access.

As part of its next phase, the company said it is also strengthening its focus on inclusivity, with targeted initiatives to onboard more women captains and enhance safety and accessibility for women riders.