Rapido lands $240M as Prosus-led round lifts valuation to $3B

Rapido, the Bengaluru-based two- and three-wheeler ride-hailing platform, has raised $240 million in a new equity funding round led by Prosus, with participation from existing backers WestBridge Capital and Accel as part of a larger $730 million primary and secondary transaction. The deal values Rapido at around $3 billion on a post-money basis, marking a sharp step-up from its previous valuation and placing the company among India’s highest-valued mobility startups. The fresh capital will be used to expand Rapido’s presence in high-growth Indian markets, deepen its driver network, and invest in technology and platform efficiency to better compete in the country’s crowded mobility sector.

The round underscores strong investor conviction in India’s low-cost, two- and three-wheeler ride-hailing model, where Rapido focuses on motorbike taxis and auto-rickshaw bookings as a more affordable and nimble alternative to traditional four-wheeler services. Prosus has increased its stake in Rapido through a mix of primary and secondary investments, reinforcing its long-term bet on India’s digital economy and urban mobility infrastructure. With this raise, Rapido is positioned to accelerate growth beyond major metros into tier-2 and tier-3 cities, leveraging its asset-light model to scale rides, last-mile connectivity, and local transport options while defending share against larger rivals and emerging local competitors.