Results · Mobility & Logistics

Rapido reports 44% revenue growth to Rs 934 crore in FY25, cuts losses by 30%

By Startup Enthusiast · 20 January 2026

What they do

Rapido generates revenue from ride commissions, delivery services, subscriptions, and advertising

The company reported Rs 934 crore in operating revenue in FY25, a 44% increase from FY24, with delivery services becoming its largest revenue source

Rapido reduced its net loss by 30.5% to Rs 258 crore in FY25, but unit economics remain challenging with a cost-to-revenue ratio of 1.35

Rapido reported operating revenue of Rs 934 crore in FY25, a 44% year-on-year increase from Rs 648 crore in FY24.
The company’s total income, including interest from investments, reached Rs 1,003 crore in FY25.
Delivery services became the largest revenue source, rising 28.3% year-on-year to Rs 340 crore.
Subscription income surged nearly 14-fold to Rs 275 crore, driven by ride passes and platform benefits.
Rapido’s two-wheeler commissions declined 23.5% to Rs 277 crore, but still accounted for 29% of operating revenue.
The company’s net loss narrowed by 30.5% to Rs 258 crore in FY25, compared to Rs 371 crore in FY24.
Despite revenue growth, unit economics remain under pressure, with Rs 1.35 spent for every rupee of operating revenue.

Rapido’s shift to delivery services has become a key growth driver, outpacing its traditional ride-hailing business.
The company’s subscription model for three-wheeler and four-wheeler cabs is helping diversify its revenue streams.
Regulatory uncertainty in Karnataka, Rapido’s largest market, has forced a shift in its two-wheeler business model.
Rapido has raised $575 million to date, with WestBridge Capital, TVS Motor, Swiggy, Prosus, and Accel as key investors.
Several investors, including Swiggy, have partially exited through secondary transactions over the past year.

Rapido operates a ride-hailing and delivery platform connecting users with drivers for bike taxis, auto-rickshaws, and four-wheelers.
The company earns revenue through commissions on rides, delivery services, subscription fees, and advertising.
Rapido’s delivery business includes food and parcel delivery, where customers pay for services provided by its captains.
The company also offers ride passes and platform benefits to users and captains through a subscription-based model.
Rapido operates in India, with a strong presence in Bengaluru and other major cities.

WestBridge Capital (investor) — Venture capital firm that led Rapido’s $200 million unicorn round.
TVS Motor (investor) — Indian automobile manufacturer and investor in Rapido.
Swiggy (investor) — Food delivery platform that partially exited its stake in Rapido.
Prosus (investor) — Global internet and technology investment company with a stake in Rapido.
Accel (investor) — Venture capital firm with a stake in Rapido.

Product: A ride-hailing app focused on bike taxis, with expanding mobility and delivery offerings.
Customers: Commuters and riders seeking low-cost transport, plus drivers earning through the platform.
How it makes money: Charges commissions or service fees on rides and related marketplace transactions.
What sets it apart: Uses two-wheelers to provide low-cost, flexible urban transport and matching.
Operations: Operates in multiple Indian cities and is building a broader super-app model.