Rapido overtakes Ola as Uber's top India rival, raises $240M at $3B valuation
Prosus-led $240M round values Rapido at $3B as bike-taxi player captures 25-30% share, surpassing Ola (15-20%). FY25 revenue up 44% to ₹934 cr; losses narrow 30%. SaaS driver-fee model, Tier-2/3 expansion and new Ownly food delivery underpin the surge — though bike-taxi regulation looms.
Rapido raised $240M at a $3B valuation in a Prosus-led round, overtaking Ola to become Uber's top ride-hailing rival in India.
Mint · Industry · 5/24/2026, 1:39:09 AM · Ask about this →