Rapido secures $240 million in round led by Prosus

The company said the new investment is part of a bigger $730 million deal. This deal includes both new investments in the company and sales of shares by existing investors.

After this funding round, Rapido’s valuation has increased to $3 billion.

The investment comes as demand for ride-hailing services is growing quickly in Tier-2 and smaller cities. At the same time, Rapido is also expanding and improving its services in major Tier-1 cities.

The new funding will help Rapido expand into new markets and grow its presence in existing cities. The company also plans to increase its captain network and create more earning opportunities for drivers.

Rapido will also invest in technology and hiring talent to improve its platform performance, make first- and last-mile travel better, and provide users with a smoother and more reliable experience in fast-growing markets.

"At Rapido, we've always believed that the true measure of mobility is not only the rides completed but also livelihoods created. This investment is about accelerating our ability to unlock both these structurally,” said Aravind Sanka, co-founder, Rapido. “We are going deeper into markets where demand exists, but supply remains fragmented, building the density that gives captains reliable, predictable earnings. We will sharpen our focus on strengthening supply, building technologies and expanding our multi-modal footprint, with far greater speed and intent."

Ashutosh Sharma, head of India ecosystem at Prosus, said mobility is emerging as a foundational layer of India’s digital economy, with the potential to unlock significant economic participation.

“Our investment reflects a strong conviction in Rapido’s ability to scale sustainably while addressing real, large-scale challenges around access and livelihoods,” said Sharma. “Rapido has established a strong position by building a supply-led mobility platform with a clear focus on affordability and execution. We look forward to an enduring partnership as the company builds a category-defining platform.”

Sumir Chadha, co-founder and managing partner at WestBridge Capital, said the company has evolved into a category-defining platform addressing critical gaps in urban mobility, with strong growth across cities and expanding user adoption. “Their focus on affordability, efficiency and driver empowerment continues to resonate strongly with consumers. We are pleased to continue backing the team as they scale their platform and unlock the next phase of growth,” said Chadha.

Founded in 2015, Rapido operates in more than 400 cities and has become one of India’s biggest mobility platforms. The company offers bike taxi, auto, and cab services.

Rapido focuses on providing affordable travel options for customers while also giving drivers, called captains, flexible ways to earn money.

Read More- Novella secures $21 million to grow AI-powered insurance brokerage for complex risks