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 from Prosus at $3B valuation, overtaking Ola as Uber's top India ride-hailing rival via bike taxis, SaaS driver fees, Tier-2/3 push, and new Ownly food delivery, despite bike-taxi regulatory risks.
Why this matters
Rapido's valuation leap comes despite mounting regulatory pressure, including Maharashtra's push to delist bike-taxi apps and proposed one-app-per-driver rules targeting Rapido, Ola and Uber.
Retail-company signals steady at 1,020 over 90 days, reflecting sustained sector activity.