Ride-hailing platform Rapido has raised $240 million in fresh primary capital in a funding round led by Prosus, with participation from existing backers WestBridge Capital and Accel, as the company doubles down on expansion across smaller Indian cities and livelihood creation.
The latest transaction, which includes primary and secondary financing, values the company at $3 billion post-money. With this, Rapido has raised a total of $730 million across primary and secondary funding rounds.
Focus on tier-II expansion and connectivity
The Bengaluru-based company said the fresh capital will be used to deepen its presence in tier-II and smaller markets, expand its captain network, improve first- and last-mile connectivity, and invest in technology and talent.
“At Rapido, we’ve always believed that the true measure of mobility is not only the rides completed but also livelihoods created,” said Aravind Sanka, cofounder of Rapido. “We are going deeper into markets where demand exists, but supply remains fragmented, building the density that gives captains reliable, predictable earnings.”
Mobility demand grows beyond metros
The funding comes at a time when mobility platforms are seeing increasing traction beyond metros, driven by rising demand for affordable transportation and flexible income opportunities. Rapido, which began as a bike taxi platform, has expanded into autos, cabs, parcel delivery, flight bookings and food delivery services.
Prosus said the investment reflects its confidence in Rapido’s ability to build a scalable mobility and economic participation platform in India.
“Mobility is emerging as a foundational layer of India’s digital economy, with the potential to unlock significant economic participation,” said Ashutosh Sharma. “Rapido has established a strong position by building a supply-led mobility platform with a clear focus on affordability and execution.”
Rapido now operates in over 400 cities
Founded in 2015, Rapido now operates in over 400 cities and claims to support more than 9 million livelihoods across India through its platform.
Existing investor WestBridge Capital said the company has evolved into a “category-defining platform” addressing urban mobility gaps, while Accel highlighted Rapido’s ability to build a high-frequency hyperlocal network with strong network effects.
The company also said it plans to strengthen inclusivity initiatives, including onboarding more women captains and improving safety and accessibility for women riders.
Published on May 15, 2026