Rapido Achieves Rs 55.3 Crore Profit, Valuation Soars to $2.3B After Swiggy Stake Sale

Rapido, an Indian ride-hailing platform competing with Uber and Ola, has reported a significant turnaround, posting a consolidated net profit of Rs 55.3 crore in FY25 after previously incurring losses. Revenue surged 57.5% to Rs 4,306.2 crore, driven by expansion and diversification, including the launch of Ownly, a food delivery app entering the market dominated by Swiggy and Zomato. Concurrently, Rapido's valuation soared to $2.3 billion following Swiggy's complete divestment of its 12% stake, sold in a secondary transaction to existing investors Prosus and WestBridge Capital for approximately ₹24 billion ($270 million). Prosus, a major stakeholder in both Swiggy and Rapido, led the acquisition with ₹19.68 billion, while WestBridge Capital acquired the remainder. The share sale more than doubled Rapido's prior valuation of $1.1 billion from early 2024 and coincides with Rapido's strategic move into food delivery, leveraging insights gained from its prior partnership with Swiggy as a last-mile delivery collaborator. This fundraising round, including primary and secondary investments totaling about $500-550 million, marks one of the largest venture-backed deals for an Indian startup in 2025 and provides Swiggy with capital to manage cash burn amid competitive pressures in quick commerce.