Funding Rapido Raises $240 Mn Led By Prosus At $3 Bn Valuation Adarsh SinghMay 15, 2026011 views Funding Marks Major Milestone For Rapido Indian ride-hailing startup Rapido has raised $240 million in a fresh funding round led by Prosus, with participation from WestBridge Capital, Accel and other existing investors. The latest investment values the Bengaluru-based company at $3 billion on a post-money basis. The fundraise is part of a larger $730 million primary and secondary transaction, making it one of the biggest mobility sector deals in India this year. Rapido To Expand Across Tier II And Smaller Cities The company said it will use the fresh capital to expand demand across new and existing markets, strengthen its captain network, improve technology infrastructure and scale hiring across key business verticals. Founded in 2015, Rapido currently operates in more than 400 cities and has emerged as one of India’s leading mobility platforms across bike taxis, auto rides and cab services. The startup is also aggressively deepening its presence in tier II and smaller cities, where affordable transportation demand continues to grow rapidly. Rapido plans to improve first and last-mile connectivity while creating new mobility demand corridors across high growth regions. Rapido Reports Strong FY25 Financial Growth Rapido’s financial performance improved significantly during FY25. The company reported revenue from operations of Rs 934 crore in FY25, compared to Rs 648 crore in FY24. The strong revenue growth also helped the company reduce its net loss by 30.5% to Rs 258 crore from Rs 371 crore in the previous fiscal year, reflecting improving operational efficiency alongside rapid scale expansion. Competition Intensifies In India’s Ride-Hailing Market The latest funding comes at a time when competition in India’s ride-hailing sector is intensifying. Uber CEO Dara Khosrowshahi recently described Rapido as Uber’s biggest rival in India, ahead of Ola. Going forward, Rapido is expected to focus on rider safety, accessibility initiatives and increasing opportunities for women captains as it accelerates its next phase of growth in India’s mobility ecosystem.