Rapido raises $240 million led by Prosus, values company at $3B
Business
Rapido, the app you've probably seen for quick bike and auto rides, just scored $240 million in new funding led by Prosus, pushing its value to $3 billion.
Existing backers like WestBridge Capital and Accel joined in too.
This cash boost is part of a bigger $730 million round, and Rapido calls it a "defining moment" as they look to expand across more cities.
Launched 2015, Rapido supports driver livelihoods
Launched in 2015, Rapido connects riders with drivers for bike taxis, autos, and cabs, all while keeping fares affordable and supporting driver earnings.
With its low-cost mobility model focused on driver livelihoods, this funding should help them scale up even more as competition heats up in India's ride-hailing world.