Rapido bags $240M from Prosus at $3B valuation, eyes tier-II push
Rapido raised $240M primary led by Prosus as part of a $730M transaction, tripling its valuation to $3B. FY25 revenue hit Rs 934 cr (up 44%) with net loss narrowing 30% to Rs 258 cr. Capital fuels tier-II expansion across 400+ cities, captain network, and tech as Uber flags Rapido as top India rival.
Rapido raised $240M led by Prosus at $3B valuation, part of a $730M round. Capital will fund expansion into tier-II cities, captain network growth, and tech, as Uber names Rapido its top India rival ahead of Ola.
Why this matters
Funding lands as Rapido faces regulatory pressure, with Maharashtra ordering shutdown of bike taxi services from Ola, Uber, and Rapido. Uber has flagged Rapido as its top India rival.
Retail-company signals steady at 307 in last 90 days.
Also reported by
- Entrackr — Same time