Prosus invests in Indian taxi app Rapido

About this update from Prosus N.v. Class N

Copyright © Emerce 2023 Prosus is leading an investment round in taxi app Rapido, significantly increasing its stake beyond ten per cent. The Dutch fund has built up its holding from zero at the start of 2025 in a relatively short period of time. Back then it injected 30 million dollars into Rapido; today it is leading a 240 million dollar round. The announcement today forms part of a wider 730 million dollar funding package, which has sent Rapido’s total valuation soaring to no less than three billion dollars . The company, founded in 2015, will use the fresh capital to expand into smaller Indian cities, improve its services in major cities and grow its driver network. It currently operates in 400 cities. Prosus has previously invested in Bykea, a ride-hailing and logistics service in Pakistan that uses motorbikes for passenger and parcel transport. The Dutch fund sees taxi apps as part of its strategy to build ecosystems in e-commerce and related sectors. In India there are two other platforms active in this space: Ola and Uber . Uber is seen as the gold standard for safety, transparency and reliability. According to reviews, its drivers are generally more professional, and the app offers by far the most consistent customer service when problems arise. Rapido, by contrast, wins on availability and speed. Because it operates a driver-friendly model, drivers accept rides extremely quickly and prices are often lower. The flipside of this rapid growth, however, is that Rapido is frequently criticised for a poor helpdesk and recurring complaints about drivers demanding extra cash on arrival. Ola comes off worst in this comparison. Rapido reports 74 million monthly active users, well ahead of Uber and Ola. Photo: Carolina Avinceta / Unsplash © The Content Exchange, source News

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