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Rapido valued at $3 billion with fresh $240 million funding
MUMBAI: Rapido, which rivals Uber and Ola in India’s ride-hailing market, has raised a fresh $240 million in funding led by Dutch technology investor Prosus at a valuation of $3 billion, higher than its last valuation of $2.3 billion it attained when Swiggy sold its stake in the startup in a secondary transaction in September last year. The investment is part of a broader $730 million funding round which includes a mix of primary and secondary transactions and has now been closed.
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thehindubusinessline.com
Rapido bags $240 mn funding led by Prosus
Rapido has raised $240 million led by Prosus at a $3 billion valuation to expand across smaller Indian cities and boost mobility services.
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techcrunch.com
Indian Uber rival Rapido raises $240M at $3B valuation | TechCrunch
Rapido has driven its growth by enabling ride-hailing for lower-cost and more flexible modes of transport such as motorbikes and autorickshaws.
