These 2 firms now hold majority stake in Rapido
What's the story
Rapido, a leading Indian ride-hailing platform, has raised $240 million in a funding round led by Prosus. The investment also saw participation from WestBridge Capital and Accel among others. With this investment, Prosus and WestBridge Capital together hold nearly 56% of the company. This is part of a larger $730 million primary and secondary share sale.
Investment details
Funding round in brief
Rapido's latest funding round saw the allotment of 158,645 Series F compulsory convertible preference shares (CCPS) at an issuance price of ₹1,35,398 each. Prosus led the round with an investment of ₹1,566 crore. WestBridge Capital invested through Setu AIF Trust, Konark Trust and MMPL Trust with a contribution of ₹223.75 crore. Accel and Invus Opportunities also participated in this round with investments of ₹179 crore and ₹134.2 crore, respectively.
Growth trajectory
Rapido's growth and funding history
Rapido's post-money valuation has jumped to ₹26,761 crore. Founded in 2015, the Bengaluru-based company has expanded its operations to over 400 cities, establishing itself as one of India's top mobility platforms across bike taxis, auto-rickshaws and cabs. The firm has raised nearly $730 million across multiple funding rounds so far. After this latest allotment, WestBridge Capital continues to be its largest shareholder with a 29.7% stake followed by Prosus at 26.2%.
Financial growth
Financial performance and future plans
Rapido reported a strong financial performance in FY25 with operating revenue jumping 44% to ₹934 crore from ₹648 crore in FY24. The company's total income also crossed ₹1,000 crore. However, it still posted a net loss of ₹258 crore for the year. The company is yet to announce its FY26 financial results but is gearing up for further expansion across India with this new funding.