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Rapido Secures USD 240 Million To Expand Mobility Operations Across India
(MENAFN- KNN India)
New Delhi, May 15 (KNN) Roppen Transportation Services Private Limited, which operates mobility platform Rapido, has raised USD 240 million in fresh capital in a funding round led by Prosus, with participation from WestBridge Capital, Accel and other investors.
Funding Round Values Rapido At USD 3 Billion
The latest funding is part of a broader USD 730 million primary and secondary financing round and values Rapido at USD 3 billion on a post-money basis.
The company said the investment will be used to expand demand, deepen its presence in existing and new markets, grow its captain network and strengthen technology infrastructure.
Tier-II Cities Drive Next Phase Of Growth
Rapido said rising demand in Tier-II and smaller cities is driving its next phase of growth, even as it continues expanding its services in metro markets. The company plans to improve first and last-mile connectivity while creating more flexible earning opportunities for drivers.
Co-founder Aravind Sanka said the funding will help the company strengthen supply networks, scale technology capabilities and expand its multi-modal mobility footprint.
Prosus Backs Mobility And Livelihood Growth
Ashutosh Sharma, Head, India Ecosystem, Prosus said the investment reflects confidence in Rapido's ability to address mobility access and livelihood creation at scale.
Founded in 2015, Rapido currently operates in over 400 cities and has positioned itself as a major player in India's mobility sector, particularly across emerging markets.
The company also said it plans to expand initiatives aimed at onboarding more women captains and improving safety and accessibility for women riders.
(KNN Bureau)
Funding Round Values Rapido At USD 3 Billion
The latest funding is part of a broader USD 730 million primary and secondary financing round and values Rapido at USD 3 billion on a post-money basis.
The company said the investment will be used to expand demand, deepen its presence in existing and new markets, grow its captain network and strengthen technology infrastructure.
Tier-II Cities Drive Next Phase Of Growth
Rapido said rising demand in Tier-II and smaller cities is driving its next phase of growth, even as it continues expanding its services in metro markets. The company plans to improve first and last-mile connectivity while creating more flexible earning opportunities for drivers.
Co-founder Aravind Sanka said the funding will help the company strengthen supply networks, scale technology capabilities and expand its multi-modal mobility footprint.
Prosus Backs Mobility And Livelihood Growth
Ashutosh Sharma, Head, India Ecosystem, Prosus said the investment reflects confidence in Rapido's ability to address mobility access and livelihood creation at scale.
Founded in 2015, Rapido currently operates in over 400 cities and has positioned itself as a major player in India's mobility sector, particularly across emerging markets.
The company also said it plans to expand initiatives aimed at onboarding more women captains and improving safety and accessibility for women riders.
(KNN Bureau)
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