Rapido raises $240 million in Prosus-led funding round

Roppen Transportation Services Private Limited (Rapido) has announced it has raised $240 million in fresh capital, led by Prosus, with participation from WestBridge Capital and Accel, and other investors, as part of a $730 million primary and secondary financing. This transaction values the company at $3 billion on post-money basis.

This investment comes at a time when demand across Tier 2+ markets is accelerating even as Rapido continues to deepen its mobility offering in Tier 1 cities. It enables the company to expand its presence in these high-growth regions by unlocking new demand corridors while significantly expanding livelihood access.

The capital will be deployed to expand demand by creating new markets and deepening existing ones, grow the captain network and expand earning opportunities at scale, and invest in the technology and people that power both.

Aravind Sanka, Co-founder, Rapido, said, "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. We are going deeper into markets where demand exists, but supply remains fragmented, building the density that gives captains reliable, predictable earnings. We will sharpen our focus on strengthening supply, building technologies, and expanding our multi-modal footprint, with far greater speed and intent."

Commenting on the investment, Ashutosh Sharma, Head of India Ecosystem at Prosus, said, “Mobility is emerging as a foundational layer of India’s digital economy, with the potential to unlock significant economic participation. Our investment reflects a strong conviction in Rapido’s ability to scale sustainably while addressing real, large-scale challenges around access and livelihoods. Rapido has established a strong position by building a supply-led mobility platform with a clear focus on affordability and execution. We look forward to an enduring partnership as the company builds a category-defining platform.”

Speaking about this development, Sumir Chadha, Co-founder & Managing Partner, WestBridge Capital, said, “As long-term partners of Rapido, we have seen the company evolve into a category-defining platform addressing critical gaps in urban mobility, with strong growth across cities and expanding user adoption. Their focus on affordability, efficiency and driver empowerment continues to resonate strongly with consumers. We are pleased to continue backing the team as they scale their platform and unlock the next phase of growth.”

Abhinav Chaturvedi, Partner at Accel added, “Rapido is building far beyond point-to-point mobility — it is creating a high-frequency, hyperlocal network with powerful network effects, one that grows stronger with every rider and captain added to the platform. The team has demonstrated a remarkable ability to organise both demand and supply across highly fragmented markets, underpinned by a scalable, technology-driven marketplace. At Accel, we believe that companies that win in large consumer markets in India consistently build density at scale — and do so on a highly defensible cost structure. Rapido fits squarely within this thesis. We are thrilled to partner with Aravind and the team as they build a foundational mobility and services layer for India’s next phase of growth.”

Positioned as the Wheels of Bharat, Rapido is not just transforming mobility, it is building an infrastructure layer for inclusive growth. By enabling flexible earning opportunities at scale while improving everyday access, Rapido is shaping a more resilient and participative economic model for India.