Prosus in talks to invest Rs 1,750 cr in Rapido, eyes larger stake
Swiggy looks to exit with Rs 2,500 crore as Rapido expands into food delivery, triggering conflict of interest.
ADVERTISEMENT
Global consumer internet group Prosus is in advanced talks to invest around ₹1,750 crore in ride-hailing startup Rapido, as it looks to increase its ownership in the company, according to a Moneycontrol report.
Prosus currently holds a 3–4 percent stake in Rapido. However, in recent months, the investor has grown bullish on the startup, driven by its growth surpassing that of competitors Ola and Uber. Rapido’s expansion into new verticals such as food delivery has also helped diversify its revenue streams, prompting Prosus to explore a deeper investment.
The report adds that Rapido was valued at $2.5–$2.7 billion during the negotiations—more than double its December 2024 valuation of $1.1 billion.
Interestingly, this comes at a time when Prosus' portfolio company Swiggy is reportedly planning to exit its 12 percent stake in Rapido, citing a potential conflict of interest following Rapido's foray into food delivery.
Swiggy, which had invested $120 million in Rapido in 2022, is looking to sell its entire stake for approximately Rs 2,500 crore.
Read More: Uber CEO calls Rapido its toughest rival in India, overtaking Ola
Read More: Bombay High Court rejects plea by auto drivers against rapido bike taxis
Read More: CCPA imposes Rs 10 lakh penalty on Rapido for misleading ads, orders refunds to consumers
