Rapido raises $240 million in primary funding led by Prosus, valuation at $3 billion

Mobility platform Rapido has raised $240 million in a primary funding round led by Prosus, with participation from existing and new investors including WestBridge Capital and Accel, the company said on May 15.

The transaction, which includes both primary and secondary components, takes the total capital raised by the company to about $730 million. The latest round values Rapido at a post-money valuation of $3 billion.

Focus on expansion across Tier 2+ markets

According to the company, the fresh capital will be used to expand its presence in high-growth markets beyond major metros, deepen its supply network of driver-partners, and invest in technology and talent. Rapido also plans to strengthen first- and last-mile connectivity services and improve platform efficiency.

The company operates across more than 400 cities and offers multiple mobility services including bike taxis, auto-rickshaws, and cab aggregation, along with adjacent services such as deliveries and travel-related offerings.

Investor outlook

Investors participating in the round said the funding reflects confidence in Rapido’s position in India’s mobility sector and its ability to scale a supply-led platform focused on affordability and access.

Prosus said mobility is emerging as a key layer in India’s digital economy, while WestBridge Capital highlighted Rapido’s growth and consumer adoption across cities. Accel described the company as building a high-frequency hyperlocal network with strong marketplace effects.

Livelihood and platform expansion strategy

Rapido said it continues to position itself as both a mobility and livelihood platform, emphasizing opportunities for driver-partners and broader participation in the gig economy. The company also indicated a continued focus on expanding its network of “captains” and improving earnings stability through higher demand density.

Company background

Founded in 2015, Rapido has expanded rapidly across India’s urban and semi-urban markets and claims a significant presence in the first- and last-mile mobility segment.