Rapido, the Bengaluru-based ride-hailing platform, has raised $240m (₹2,302 crore) in fresh funding led by existing backer Prosus, with WestBridge Capital, Accel and other investors taking part. The deal was announced on 15 May 2026.
The transaction values Rapido at $3bn on a post-money basis, Prosus said. According to Business Today and Inc42, the $240m is part of a larger $730m round that combines primary investment with secondary share sales.
Prosus said it had increased its stake in Roppen Transportation Services, the company that operates Rapido, through a combination of primary and secondary investments.
“At Rapido, we've always believed that the true measure of mobility is not only the rides completed but also livelihoods created. This investment is about accelerating our ability to unlock both these structurally.”Aravind Sanka, Co-founder, Rapido
What Rapido does
Rapido was founded in 2015. Its platform covers bike taxis, auto rickshaws, cabs, parcel delivery, food delivery and flight bookings, and operates in more than 400 cities, with deep reach into India's tier-2 and tier-3 markets, according to Prosus. Inc42 reported that it has also added metro ticket, hotel, bus and train bookings.
Rapido calls its drivers captains. Prosus described the platform as SaaS-driven and said it supports more than 9 million livelihoods in India.
Inc42 reported that Rapido narrowed its loss by 30.3% in the 2025 financial year, while revenue rose 44.2%.
Competition with Uber and Ola
Rapido competes with Uber and Ola in India's ride-hailing market. Inc42 noted that the funding was announced while Uber chief executive Dara Khosrowshahi was visiting India, and that Uber had put nearly ₹3,000 crore (around $330m) into its Indian business in February 2026. Uber also announced plans that week to set up its first data centre in India with Adani Group.
Prosus said that beyond capital it supports its portfolio companies with operating expertise in areas such as AI-led optimisation, platform governance and scaling operations. It described its investment in Rapido as part of a strategy of backing platforms that address everyday consumer needs.
What the money is for
Rapido said it will use the capital to enter new markets, deepen its presence in existing ones, grow its driver network and invest in technology and hiring. Business Today reported that the company sees demand from tier-2 and smaller cities accelerating while it keeps expanding in metro markets.
Co-founder Aravind Sanka said the company would go deeper into markets where demand exists but supply remains fragmented, and would focus on strengthening supply, building technology and expanding its multi-modal footprint.
Ashutosh Sharma, head of India ecosystem at Prosus, said the investment reflected conviction in Rapido's ability to scale sustainably, and pointed to its supply-led platform and focus on affordability.
A changing shareholder base
The round follows several changes among Rapido's shareholders. In September 2025 the food delivery company Swiggy said it would sell its stake in Rapido to existing investors WestBridge and Prosus for about ₹2,400 crore (about $270.4m), Inc42 reported. TVS Motor later signed an agreement to sell its stake in Rapido to Accel and Prosus.
India's competition regulator approved the investment by Prosus entity MIH Investments One BV in Rapido in January 2026, according to Inc42. Those deals were sales of existing shares and did not bring new money into the company.
Rapido has not disclosed how much it has raised in total.
Company website: rapido.bike