Employee expenses rose to ₹207.01 crore in FY25, up about 20 per cent from ₹172.47 crore in FY24
Rapido reported a strong top-line growth in FY25 even as it continued to narrow losses, reflecting improving operating leverage amid expansion into new services. The company posted a revenue of ₹1,002.87 crore in FY25, a 44.2 per cent jump from ₹695.26 crore in the previous year, according to market intelligence platform Tracxn.
Losses narrowed during the year, with net loss declining 30.3 per cent to ₹258.44 crore from ₹370.72 crore in FY24. EBITDA loss also improved by 30.6 per cent to ₹252.83 crore, compared with ₹364.22 crore a year earlier, indicating tighter cost controls and better unit economics.
Employee expenses rose to ₹207.01 crore in FY25, up about 20 per cent from ₹172.47 crore in FY24, as the company continued to invest in talent and product development to support growth across mobility and newer business lines.
In September 2025, Swiggy exited Rapido by selling its entire 12 per cent stake to existing investors Prosus and WestBridge Capital for a total consideration of ₹2,399 crore. Prosus acquired shares worth ₹1,968 crore ($223 million), while WestBridge purchased the remaining stake valued at ₹431.5 crore ($49 million).
The company has also expanded into food delivery through its own app, Ownly, entering a segment dominated by Zomato and Swiggy. The offering aims to differentiate itself by pricing meals at offline-equivalent rates, allowing restaurants to avoid high platform commissions and additional charges. Ownly has been launched across three neighbourhoods in Bengaluru and is being rolled out to other parts of the city in phases.
Regulatory headwinds
However, the expansion comes amid regulatory headwinds. On June 16, 2025, a Karnataka High Court order barred bike-taxi operations in the absence of a specific regulatory framework, forcing Rapido and other players to temporarily suspend services. Rapido subsequently pivoted to “bike parcel” deliveries as an interim workaround, even as legal proceedings continue and the industry awaits clarity on State policy.
Meanwhile, Rapido has continued to transition towards a zero-commission, SaaS-based model for its auto and cab drivers, charging a subscription fee for platform access instead of taking a percentage cut on each ride.
Against this backdrop, the company has begun laying the groundwork for a potential initial public offering and plans to start preparations by the end of 2026.
Published on January 21, 2026
