Indian ride-hailing app Rapido secured $240 million in funding led by Prosus, reaching a $3 billion post-money valuation. The capital comes through a combined primary and secondary financing round.
Rapido, operated by Roppen Transportation Services Private Limited, continues to strengthen its position in India's competitive ride-hailing market. The funding round includes both new capital investment (primary) and secondary share purchases from existing investors.
Prosus, the global venture capital and e-commerce company, leads the investment as the platform expands operations across India. The $3 billion valuation marks significant growth for the mobility startup, which competes against larger players like Uber and Ola in the Indian market.
The capital injection supports Rapido's expansion plans and operational scaling. India's ride-hailing sector remains highly competitive, with platforms battling for market share through service expansion and pricing strategies.
Rapido has built its presence primarily through bike-taxi and auto-rickshaw services, differentiating itself from competitors focused on four-wheeler rides. The funding provides resources for technology development, driver incentives, and market penetration in tier-2 and tier-3 cities.
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