The Bengaluru-based startup’s net loss for FY25 came in at Rs 258 crore, down 30% from the year ended March 2024. This was mainly on a marked improvement in operating leverage, with its Ebitda losses (or operating losses) coming down to Rs 104 crore against Rs 409 crore in FY24.
In FY24, the company’s losses had narrowed 45% to Rs 371 crore.
Besides bike taxis, which Rapido operates on a commission basis, the company also offers three-wheeler and four-wheeler ridehailing service on a subscription basis. This means that while it charges a commission to bike taxi operators on every ride, for other modes, it takes a subscription fee from drivers for a set period during which they get access to customers via the platform.
Rapido’s revenue from subscription services, which was only Rs 19 crore in FY24, has surged to Rs 275 crore in FY25 as it expanded its three- and four-wheeler services across the country during the period.
Meanwhile, revenue from platform services — primarily through commissions — declined to Rs 347 crore from Rs 505 crore. The WestBridge Capital-backed company also saw its advertising revenue jump over six times in FY25 to Rs 16 crore from just Rs 2.5 crore the previous year.
Over the past 12-18 months, Rapido has scaled up its business significantly to gain market share in the urban mobility market. It has surpassed both Uber and Ola in terms of overall market share.
ET had reported on September 10 that while Rapido leads the overall ridehailing sector, it is second in the lucrative four-wheeler segment, behind Uber. Rapido cofounder and CEO Aravind Sanka had told ET at the time that the company would focus more on “sustainable growth” than “chasing market leadership at any cost”.
Rapido is also in the process of closing a massive $550-million funding round led by Dutch technology investor Prosus and WestBridge Capital.
The company is now expanding its food delivery service Ownly, which it launched in mid-2025.
On the expenses front, Rapido’s spending on marketing rose by 18% in fiscal year 2025 to Rs 252 crore, while staff costs increased 20% to Rs 207 crore.