Bike taxi startup Rapido raises Rs 250 crore from Prosus

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Bengaluru-based ride hailing firm Rapido has raised Rs 250 crore (nearly $30 million) from Dutch investment firm Prosus, according to a filing made with the Registrar of Companies (RoC)

The fund infusion is an extension to Rapido’s Series E round in which it had raised $200 million last year, led by WestBridge Capital.

Prosus comes in as a new investor into the bike taxi startup, which hit $1 billion in gross merchandise value (GMV) last year.

The investment was made at the same $1.1-billion valuation at which Rapido raised funds from WestBridge.

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Bike taxi startup Rapido raises Rs 250 crore from Prosus


Bengaluru-based ride hailing firm Rapido has raised Rs 250 crore (nearly $30 million) from Dutch investment firm Prosus, according to a filing made with the Registrar of Companies (RoC)

The fund infusion is an extension to Rapido’s Series E round in which it had raised $200 million last year, led by WestBridge Capital.

Prosus comes in as a new investor into the bike taxi startup, which hit $1 billion in gross merchandise value (GMV) last year.

The investment was made at the same $1.1-billion valuation at which Rapido raised funds from WestBridge.

The…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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