Rapido

Rapido is India’s largest bike-taxi aggregator and a pioneer in affordable, tech-driven urban mobility. The startup began as a solution to India’s last-mile connectivity challenges, leveraging two-wheelers to bypass traffic congestion. Today, Rapido operates across 500+ cities, offering bike taxis, auto rickshaws, cabs and logistics services, with over 1.4 crore registered drivers ("Captains") and 9 crore users. Rapido’s unique value proposition lies in its zero-commission model for drivers (replaced by a fixed subscription fee) and ultra-affordable rides (30–50% cheaper than traditional cabs). 

Core Products and Services

• Bike Taxis: Core service with 60% market share in two-wheeler ride-hailing; base fare of ₹25 for 2 km.

• Auto Rickshaws: Available in 100+ cities; "Flexi Fare" lets users bid for rides.

• Rapido Cabs: Subscription-based cab service (₹499–999/week for drivers), contributing 15% of FY24 revenue.

• Rapido Delivery: B2B logistics for Swiggy, Zepto and BigBasket; 2.5 million daily orders in 2025.

• Rapido Box: P2P hyperlocal delivery for essentials (medicines, groceries).

• Safety Features: Insured rides (up to ₹5 lakh coverage), women-only rides and AI-powered route optimization.

Key milestones

• 2020: Launched auto-rickshaw services and logistics arm during COVID-19.

• 2022: Raised $180 million in Series D led by Swiggy, scaling to 100 cities.

• 2024: Achieved unicorn status with $200 million Series E; expanded to 500 cities.

• 2025: Launched Rapido Cabs with a subscription model, disrupting traditional ride-hailing.

Business Model & Revenue Streams

• Ride Commissions (55.9% of FY24 revenue): Charges 20% per ride (bike/auto/cab), generating ₹362 crore.

• Delivery Services (39.5%): B2B logistics contributed ₹265 crore, growing 171% YoY.

• Subscriptions (4.6%): Cab drivers pay weekly fees (₹499–999), earning ₹19 crore.

Geographic split

• Metros (40%): Delhi, Mumbai, Bengaluru.

• Tier 2/3 Cities (60%): Ludhiana, Coimbatore, Visakhapatnam.

Customer segmentation

• B2C (85%): Individual riders, predominantly aged 20–35.

• B2B (15%): Swiggy, Zepto and e-commerce partners for last-mile delivery.

Top Clients & Partnerships

• Swiggy: Minority investor and primary logistics partner; 60% of Rapido’s B2B delivery revenue.

• TVS Motor: Co-developed electric two-wheelers for Rapido’s fleet.

• Zepto: Pilot partnership for quick-commerce deliveries in 20 cities.

• Tummoc: Integrated first/last-mile connectivity in 20 cities via Tummoc’s MaaS platform.

• Acko Insurance: Provides ₹5 lakh coverage for all rides.

Future Outlook & Strategic Priorities

• Market Expansion: Targeting 500 cities by 2025-end, focusing on Uttar Pradesh and Bihar.

• Quick Commerce: Scaling partnerships with Zepto and Blinkit for 10-minute deliveries.

• EV Adoption: 30% of fleet to transition to electric by 2026, supported by TVS and Ola Electric.

• Regulatory Hurdles: Bike taxis remain illegal in states like Maharashtra and Karnataka.