Ride-hailing platform Rapido announced raising $240 million in fresh funding. In a statement, the company stated that its post-money valuation is pegged at $3 billion in the latest funding round.
The funding round was led by Prosus with participation from existing investors, including Accel and Westbridge. The company has raised a total of $730 million in primary and secondary funding.
“Raised $240 million in fresh capital, led by Prosus, with participation from WestBridge Capital and Accel, and other investors, as part of a $730 million primary and secondary financing”, Rapido said in a statement.
Rapido’s valuation has almost tripled within one year as the startup continues to gain market size, becoming the second-largest ride-hailing platform in the country. According to Tracxn, Rapido was valued at $1.08 billion in June 2025, when the company raised $15 million in its Series E.
Funds utilisation plans
Rapido plans to deploy the fresh capital to expand into new markets and deepen its operations in the existing ones. The company said that it wants to grow its rider network and invest in technology and people.
“This investment comes at a time when demand across Tier 2+ markets is accelerating even as Rapido continues to deepen its mobility offering in Tier 1 cities. It enables the company to expand its presence in these high-growth regions by unlocking new demand corridors while significantly expanding livelihood access.”
Rapido revenue and operations
Rapido reported a 44% revenue growth in FY25. The company’s revenue jumped to Rs 1002 crore in fiscal 2024-25, from Rs 695 crore in FY24. The strong growth momentum has helped the startup to cut its losses to Rs 258 crore in FY25, compared to a loss of Rs 370 crore in FY24.
Rapido’s latest foray into the car-hailing segment, following its previous bike-only operations, has alarmed the industry’s existing leaders. As Rapido continues to gain market share in India, its biggest rival, Uber, has also doubled down on its India operations. Earlier this year, in February, Uber announced it would infuse Rs 3,000 crore, about $330 million, into its India operations.