Mobility platform Rapido announced on Friday that it has raised $240 million in a funding round spearheaded by Dutch investment firm Prosus, with aims to bolster demand by creating new markets and investing in technology.
The funding round also saw participation from WestBridge Capital and Accel, among other investors, as reported by Rapido (officially known as Roppen Transportation Services Pvt Ltd). With this latest capital infusion, the company has amassed $730 million in both primary and secondary financing, placing its post-money valuation at $3 billion.
“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,” stated Aravind Sanka, Co-founder of Rapido.
Founded in 2015, Rapido operates in over 400 cities. The platform intends to focus on enhancing supply, developing technology, and expanding its multi-modal footprint with greater speed and intent.
The funds will be utilized to broaden demand by entering new markets and deepening existing ones, growing the captain network to scale earning opportunities, and investing in technology and personnel that support both initiatives.
This includes expanding Rapido’s presence in high-growth markets, strengthening first and last-mile connectivity, and improving platform efficiency for a more reliable and seamless user experience. The funding will also support investments in talent aimed at long-term scalability.
Rapido noted that as India’s growth extends beyond metropolitan areas, two structural gaps are becoming increasingly evident: access to reliable and affordable mobility, and access to flexible earning opportunities.
This investment comes at a time when demand is surging in tier 2+ markets, even as the company continues to enhance its mobility services in tier 1 cities. Rapido emphasized that this funding allows for an expansion in these high-growth regions by unlocking new demand corridors and significantly improving livelihood access.
In its next phase, the company will also focus on inclusivity, with targeted initiatives to onboard more women captains and improve safety and accessibility for women riders.
Published on May 15, 2026.
