Rapido’s Financials, Revenue, Profit, Valuation & Shareholding Overview (2025)
Legal Name: Roppen Transportation Services Private Limited | CIN: U60231TG2015PTC097115
Rapido, founded in 2015 by Rishikesh SR, Pavan Guntupalli, and Aravind Sanka, is Bengaluru-based India’s leading bike taxi and mobility services platform operating in 100+ cities. The platform facilitates convenient, affordable bike taxis, auto-rickshaw hailing, and delivery services by leveraging technology-driven matching, real-time tracking, and dynamic pricing. Since inception, Rapido has scaled rapidly, expanding its service offerings into logistics, subscription services, and allied mobility solutions, aiming to enhance urban commute efficiency and driver-partner earnings across diverse geographies.
| Founding year | 2015 |
|---|---|
| Headquarters | Bengaluru, Karnataka, India |
| Valuation | Unicorn (~$1.1B as of Sep 2024) |
| Total Funding | $430M+ (including Series D/E and extensions) |
| Employees | ~2,000 (FY24) |
| Annual Revenue (INR) | ₹648 Cr (FY24) |
| Annual Net Loss (INR) | ₹371 Cr (FY24) |
| EBITDA Margin | -52.5% (FY24) |
| Round | Date | Amount | Valuation | Investors |
|---|---|---|---|---|
| Seed | May 2015 | $0.18M | Not disclosed | Sol Primero, Outbox Ventures, Nikunj Jain, McCandless Management |
| Angel | Apr 2016 | Undisclosed | Not disclosed | Pawan Munjal, Rajan Anandan, others |
| Early VC | 2018 | $11M | Not disclosed | Swiggy-led investor consortium |
| Series D | Apr 2022 | $180M | $830M valuation | Swiggy, TVS Motor, WestBridge, Shell Ventures, Nexus Ventures |
| Series E | Sep 2024 | $200M | $1.1B valuation | WestBridge, Nexus, Think Investments, Invus Opportunities |
| Series E Extension | Feb 2025 | ₹250 Cr (~$30M) | $1.1B valuation | Prosus (secondary/investment) |
Rapido’s revenue grew from ₹145 Cr in FY22 to ₹443 Cr in FY23 (↑205%) and to ₹648 Cr in FY24 (↑46%), while losses narrowed from ₹440 Cr to ₹675 Cr and to ₹371 Cr (↓45% YoY in FY24), reflecting improved cost management and scale benefits.
Rapido’s EBITDA margins improved from around -70% in FY22 to -60% in FY23 and to -52.5% in FY24, driven by optimized partner incentives, reduced employee and marketing costs, and operational efficiencies.
Employee count rose from ~1,000 in FY22 to ~1,500 in FY23 and ~2,000 in FY24, supporting technology, operations, and expansion into new cities and services. Future focus includes enhancing platform reliability, expanding allied services, and improving driver-partner support.
- Expand mobility offerings including auto-rickshaw, taxi, and delivery services across more cities.
- Enhance technology for dynamic pricing, AI-driven route optimization, and platform scalability.
- Optimize unit economics through partner incentive design and cost management.
- Explore new revenue streams like subscriptions and allied services (insurance, maintenance).
- Consider strategic exit or IPO after path to profitability is clear, based on market conditions.
In FY24, Rapido’s revenue reached ₹648 Cr (↑46% YoY) and losses narrowed by 45% to ₹371 Cr, driven by effective cost management and scaling of ride orders to nearly half a billion. The company raised $200M in Series E at a $1.1B valuation in Sep 2024 and secured ₹250 Cr from Prosus in Feb 2025. Rapido continues to expand its mobility and delivery offerings, optimize unit economics, and explore new service verticals while improving driver-partner earnings and urban commute efficiency.
| Metric | Details |
|---|---|
| Employees | 1000 → 1500 → 2000 |
| Revenue | ₹145 Cr → ₹443 Cr (↑205%) → ₹648 Cr (↑46%) |
| Net Loss | ₹440 Cr → ₹675 Cr → ₹371 Cr (↓45% from FY23) |
| EBITDA Margin | -70% → -60% → -52.5% |
| Valuation & Funding | Unicorn (~$1.1B as of Sep 2024); $430M+ (including Series D/E and extensions) |
| IPO Status | Private; exploring profitability path before potential exit. |
| Expansion Focus | Enhancing mobility services, optimizing unit economics, expanding into new cities, and allied services. |
| Latest News | ₹648 Cr revenue and ₹371 Cr loss in FY24; $200M Series E at $1.1B valuation in Sep 2024; Rs 250 Cr funding from Prosus in Feb 2025 |
Rapido’s strong revenue growth and significant reduction in losses demonstrate effective scaling and cost management in India’s competitive mobility space. Continued focus on operational efficiency, service diversification, and technology innovation will be key to achieving sustainable profitability and potential exit.
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