Bike taxi startup Rapido is gaining quick ground in the last-mile commute segment. This reflects in its financials, too. The Bengaluru-based firm registered a 12.5X jump in revenue from operations to Rs 9.82 crore in FY19 from a mere Rs 78.36 lakh the previous fiscal, according to its regulatory filings.
The company’s other income, including discount received, interest income, and capital gain on sale of mutual funds, also increased by 53.6 times to Rs 82.59 lakh during the same period.
Founded in 2015 by Rishikesh SR, Pavan Guntupalli, and Aravind Sanka, Rapido provides on-demand bike taxi services. It is available across 90 locations, serving over 10 million customers on the back of 5,00,000 riders or captains.
