Overview

• Rapido charges drivers a daily subscription fee instead of per-ride commissions, enabling lower fares that have driven rapid rider and driver adoption.
• Appfigures data show the Rapido app was downloaded 33 million times last year, exceeding Uber’s 21 million and Ola’s 19 million new downloads.
• The company achieved profitability for the first time and now facilitates around 4.3 million rides per day, triple Ola’s volume and about 40% more than Uber’s.
• The startup raised $200 million at a $1.1 billion valuation from investors including WestBridge Capital, Nexus Venture Partners and Prosus and confirmed plans to pursue an IPO.
• Rapido suspended motorcycle taxi services in Karnataka after a High Court ruling barred private bikes for hire and is facing a similar ban in Maharashtra along with unresolved GST liability questions.