Rapido Raises $240M Led by Prosus

Rapido, an urban mobility platform, has successfully raised $240 million in a fresh funding round, primarily led by Prosus, with significant participation from existing investors WestBridge Capital and Accel-KKR. This transaction values Rapido at $3 billion post-money, bringing its total capital raised to $730 million. The fresh capital will be strategically deployed to deepen Rapido's presence in tier-II and smaller Indian cities, expand its network of driver-partners (captains), improve first- and last-mile connectivity, and invest in technology and talent. The investment underscores the growing demand for affordable transportation and flexible income opportunities in India, as mobility platforms like Rapido continue to expand beyond major metropolitan areas. Prosus expressed confidence in Rapido's ability to build a scalable mobility and economic participation platform in India, recognizing mobility as a foundational layer of India's digital economy.