Rapido to Raise ₹125 Crore from Nexus Ventures, Eyes Expansion into Food Delivery and Fintech
- ByStartupStory | June 10, 2025
Bengaluru-based ride-hailing startup Rapido is set to raise ₹125.2 crore from US-based venture capital firm Nexus Ventures, as it gears up to diversify beyond its core mobility offerings. According to a recent filing with the Registrar of Companies (RoC), the company’s board approved a resolution to issue 23,872 Series E Compulsorily Convertible Preference Shares (CCPS) at a premium of ₹52,457 per share, valuing each at ₹52,467. The fresh capital injection is aimed at supporting Rapido’s upcoming ventures into food delivery and fintech.
This latest round follows ₹250 crore raised from Prosus earlier this year and a $200 million fundraise in September 2024 led by investors including WestBridge Capital and Nexus Ventures, which valued the company at unicorn status.
Rapido is aggressively expanding beyond bike taxis and auto rides. The company is reportedly onboarding restaurants for its soon-to-be-launched food delivery platform, and plans to attract both users and partners by offering a lower commission model than industry leaders Zomato and Swiggy.
Additionally, Rapido is laying the foundation for a new fintech subsidiary. While specific details remain undisclosed, sources suggest the company is exploring offerings in lending and allied financial services.
On the ride-hailing front, Rapido has ambitious plans to scale operations from 120 cities to 500 cities, intensifying competition with players like Uber, Ola, and Namma Yatri in India’s urban mobility market.
Founded in 2015, Rapido has steadily expanded its services and funding base, now positioning itself as a multi-vertical urban mobility and services platform. The fresh funding from Nexus Ventures will help power the next phase of its journey into adjacent markets.
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