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Rapido set to secure $60 mn investment from Prosus
The Daily Guardian
|October 12, 2024
Indian ride-hailing unicorn Rapido is reportedly close to raising $60 million (INR 503 Cr) from Dutch investment firm Prosus, in a combination of primary and secondary share sales. This new capital will be part of Rapido's ongoing $200 million round, sources revealed.
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According to sources who spoke to Entrackr, the terms of the deal have already been finalised. "Prosus will acquire a $60 Mn stake in Rapido. The terms of the deal have been finalized, and it will also enable partial exits for early backers," said one source. Another insider familiar with the development said that this $60 million round would mark the conclusion of Rapido's Series E funding. Despite the investment, there are no expected changes to the company's current valuation.
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