Swiggy sold its entire approximately 12% stake in Rapido in 2025 in a transaction that implied a $2.3 billion valuation for the Indian ride-hailing company. That figure describes the secondary share sale—not Rapido’s latest reported valuation: a May 2026 funding round put the company at $3 billion.
What the $2.3 billion figure means
TechCrunch reported on September 23, 2025, that Swiggy sold its entire approximately 12% holding in Rapido for about ₹24 billion (around $270 million). The transaction implied a $2.3 billion valuation for Rapido, more than twice the $1.1 billion valuation reported for September 2024 and confirmed by Rapido’s CEO to TechCrunch.
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These are private-company transaction valuations, not public-market capitalizations. The $2.3 billion figure is an estimate implied by the 2025 share sale; it is not an independently audited valuation or a measure of Rapido’s market value today.
Who bought Swiggy’s stake
According to TechCrunch’s account of regulatory filings, Prosus acquired roughly 10% of Rapido for ₹19.68 billion (about $222 million), while WestBridge Capital bought the remainder for ₹4.31 billion (about $49 million). These reported components describe how the sale was allocated; they are not separate company valuations.
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Swiggy’s FY2026 shareholder letter, published in May 2026, later confirmed that it completed the sale of its entire investment in Roppen Transportation Services Private Limited (Rapido) during the financial year ended March 31, 2026. Swiggy recorded consideration of ₹2,399 crore and a ₹1,350 crore gain in other comprehensive income. The letter’s recorded consideration is a later company-reported figure; it should not be treated as an exact contradiction of TechCrunch’s earlier approximate ₹24 billion (about $270 million) report.
Why Swiggy sold
TechCrunch reported that Swiggy cited a potential conflict of interest as Rapido prepared to enter food delivery, a sector where the companies compete. Rapido began piloting food delivery in Bengaluru through its subsidiary Ownly in August 2025. Rapido had also worked as a last-mile delivery provider for Swiggy.
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This reported conflict provides strategic context for the exit, but the available reporting does not establish it as the sole reason Swiggy sold.
Rapido’s valuation after the sale
The $2.3 billion sale-implied valuation was superseded by a later reported funding valuation. TechCrunch reported on May 15, 2026, that Rapido raised $240 million at a $3 billion valuation in a round led by Prosus. That equity round was part of a larger $730 million primary and secondary financing.
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| Date | Transaction | Reported valuation | What the figure measures |
|---|---|---|---|
| September 2024 | Valuation reported by TechCrunch in September 2025 | $1.1 billion | Rapido’s earlier reported private-company valuation |
| September 2025 | Swiggy’s secondary sale of its entire approximately 12% stake | $2.3 billion | Valuation implied by the reported share sale |
| May 2026 | $240 million funding round led by Prosus | $3 billion | Valuation reported alongside the later funding round |
The values refer to different dates and transaction contexts. A valuation implied by an existing shareholder’s sale is not interchangeable with one reported alongside a later funding round.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Rapido’s business and stated funding priorities
Rapido is an Indian ride-hailing platform competing with Uber. TechCrunch described its expansion from bike taxis into auto-rickshaw bookings and car services, as well as courier services. In May 2026, Rapido said the fresh funding would support expansion in high-growth markets, a stronger driver network, and investment in technology and platform efficiency.
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- When you access your Visa Virtual eGift Card for the first time, you’ll need to register your name, address, phone number, and email address via activationspot.com. These details should also be used as your billing address for online purchases, as many merchants require address verification for purchase authorization.
- This Visa Virtual eGift Card is non-reloadable. No cash or ATM access. Visa Virtual eGift Cards are emailed active.
- Funds do not expire but your Visa Virtual eGift Card has a ‘valid thru’ date (9 years from date of purchase). If funds remain after this date has passed, please call the Toll Free number found on your Visa Virtual eGift Card for a replacement card. A one-time purchase fee applies at the time of checkout.
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Co-founder Aravind Sanka said in a statement quoted by TechCrunch on May 15, 2026: “We are going deeper into markets where demand exists, but supply remains fragmented.” He added that the company would focus on strengthening supply, building technologies, and expanding its multimodal footprint.
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- Endless games to explore: Find and play old and new favorites – from mind-bending puzzles to epic quests and more.
- Just the app you’re looking for: Millions of apps means millions of ways to get things done, learn something new, and maybe even meet someone special.
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