Roppen Transportation Services Private Limited (Rapido) 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 Mobility platform at $3 billion on a post-money basis.
The fundraising announcement comes amid Uber CEO Dara Khosrowshahi’s visit to India as the global mobility giant faces increased competition from Rapido and other local players. He is in India to push Uber’s strategic plans, meet government officials, explore partnerships and discuss mobility solutions.
Rapido stated that this investment comes at a time when demand across Tier 2+ markets is accelerating even as it continues to deepen its mobility offering in Tier 1 cities.
As per Rapido, 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. This includes deepening Rapido's footprint across high-growth markets, strengthening first and last-mile connectivity, and improving platform efficiency. Founded in 2015, Rapido operates in over 400 cities.
Aravind Sanka, Co-founder, Rapido, said, "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, “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.“
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. 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.”