Prosus to invest $200 million in Rapido, boosting its stake
Prosus, a Dutch investment firm, is reportedly set to invest $200 million in Indian ride-hailing app Rapido, raising its stake beyond the current 3-4%.
Rapido has been growing fast—outpacing Uber and Ola—and this new funding could come as either fresh capital or by buying shares from existing investors.
Rapido's soaring valuation and Swiggy's stake sale plans
Rapido's value has soared to about $2.5-$2.7 billion, up from just $1.1 billion in December 2024, thanks to rapid expansion and moves into food delivery.
Meanwhile, Swiggy is looking to sell its 12% stake in Rapido for around $300 million—as Rapido's entry into food delivery creates a potential conflict of interest for Swiggy.
With its Gross Merchandise Value doubling in a year to over $2 billion, Rapido is quickly becoming a major player on multiple fronts.