Bike-taxi and ride-hailing platform Rapido is gearing up for its next big move. As part of its expansion plans, Nexus Venture Partners is set to invest ₹125 crore in the Bengaluru-based startup ahead of its much-anticipated foray into the food delivery segment.
The funding comes at a time when R#apido is rapidly scaling operations and diversifying its offerings. The company is planning to take on Zomato and Swiggy, promising lower commission rates for restaurant partners—as low as 8%—which could disrupt the existing food delivery ecosystem that has been under fire for unfair practices.
But the ambitions don’t stop there. Rapido is also preparing to enter the insurance distribution space, where it aims to offer health, life, general, and motor insurance to both its driver partners and customers. This could open up a significant new revenue stream and strengthen loyalty among its partner network.
In terms of performance, FY25 has been a milestone year for Rapido. The company’s Gross Order Value (GOV) more than doubled, hitting $1.25 billion, thanks to aggressive growth in its core ride-hailing and bike taxi business.
Founded in 2015, hashtagRapido operates in over 100 cities and has consistently positioned itself as a cost-effective and agile alternative to traditional cab services. With backing from marquee investors and eyes set on multiple verticals, Rapido is clearly on an ambitious track—expanding from mobility to meals, and now to money.
