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.

— Source publishedFri, 15 May, 2026, 12:44 IST·First seen Fri, 15 May, 2026, 12:53 IST·Source Entrackr · Newsletter

What happened

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

Key facts

  • $240 million primary round
  • $730 million total transaction
  • $3 billion post-money valuation
  • 400+ cities
  • FY25 revenue Rs 934 cr
  • FY24 revenue Rs 648 cr
  • FY25 net loss Rs 258 cr (down 30.5%)
  • Uber India infusion Rs 3,000 cr

Why this matters

Rapido's $240M war chest aimed at 400+ tier-II cities reshapes the competitive map and could trigger defensive M&A or partnership moves from incumbents seeking to lock down driver supply and last-mile coverage.

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