Rapido Revenue, Valuation, Funding & Investors

GoTo is an Indonesian ecosystem that combines ride-hailing, delivery, and financial services under one app. The company operates primarily in Indonesia and is the product of a merger between Gojek and Tokopedia in May 2021, but recently divested the e-commerce business into a combined entity with TikTok Indonesia in 2024. Looking ahead, we expect the on-demand service to account for the majority of revenue while its financial services begin to ramp. Prior to the deconsolidation, 82% of nonfinancial services gross transactional value came from e-commerce, and the firm will begin to expand into financial services such as providing loans and buy now, pay later programs. The company competes with Grab in the ride-hailing and delivery business.

Kakao Mobility is a Seoul-headquartered provider of ride-hailing and navigation services under the Kakao T brand. It operates Kakao Taxi for on-demand cabs, Kakao T Bus for real-time transit, Kakao Driver for chauffeur services, and Kakao Navi mapping with traffic avoidance. The company partners with Hyundai for electric vehicle fleets and GS Caltex for parking solutions, serving major cities like Busan and Daegu since its 2017 launch.

Carro is a Singapore-headquartered automotive platform providing used car buying, selling, financing, warranties, and roadside assistance across Southeast Asia. Founded in 2015, it uses proprietary pricing algorithms for transparent transactions and operates inspection centers, auction houses, and on-demand recovery services in Singapore, Indonesia, Japan, and Malaysia.

UCAR is a leading chauffeured car service in China utilizing mobile internet, big data, professional drivers, and vehicles from CAR Inc. It verifies driver backgrounds, vehicle conditions, tracks behaviors, protects privacy, and offers accident compensation. Launched in January 2015.

Neutron Holdings Inc is a micromobility company that provides rentals of shared electric scooters (e-scooters) and electric bicycles (e-bikes) through its platform (the Rider App) to be used for short distances in various cities and municipalities around the world.

Didi Woya is a Beijing-headquartered autonomous driving unit of Didi Chuxing focused on robotaxi development. The division deploys self-driving vehicles equipped with 360-degree sensors, machine learning, and IoT for ridesharing tests in China. Didi Woya advances commercialization of Level 4 autonomy for efficient urban transport.

GO Inc is a mobility-tech company, focused on taxi and transportation services through a digital platform. Its business activities include the provision of dispatch systems for taxi operators, taxi-hailing applications, and other mobility-related services.

Lyft is the second-largest ride-sharing service provider in the US and Canada, connecting riders and drivers over the Lyft app. Incorporated in 2013 and public since 2019, Lyft offers a variety of rides via private vehicles, including traditional private rides, shared rides, and luxury ones. Besides ride-share, Lyft has entered the bike- and scooter-share market to bring multimodal transportation options to users.

Caocao Chuxing is a Hangzhou-headquartered ride-hailing service operating in over 100 cities across China as a Geely Holdings subsidiary launched in 2015. The platform emphasizes electric vehicles for zero-emission mobility, providing premium rides, shared cars, and autonomous vehicle pilots integrated with WeChat for seamless urban transport.

Cabify is a Madrid-headquartered ride-hailing service operating in Spain, Portugal, and Latin American countries including Mexico, Colombia, and Peru. The app offers economy, comfort, and premium vehicle classes with licensed professional drivers. Launched in 2011, Cabify integrates carbon offset options and corporate accounts for fleets. It competes in markets like Santiago and Buenos Aires with fixed pricing during peak hours.

Argo AI was a Pittsburgh-headquartered developer of autonomous vehicle technology, operating engineering centers in Detroit, Cranbury, Los Angeles, Palo Alto, and Munich. Launched in 2016 by Ford and Volkswagen, it built the Argo Autonomy Platform for self-driving ridesharing and delivery until operations ceased in 2022 with technology transferred to Ford.

inDrive (formerly inDriver) is a global, peer-to-peer ride-hailing and urban services platform. It stands out from competitors by allowing passengers and drivers to directly negotiate fares, bypassing traditional surge-pricing algorithms. Operating in over 1,000 cities across 48 countries, it is the world's second most downloaded mobility app.

Bolt is a Tallinn-headquartered mobility company founded in 2013 operating in 45 countries across Europe and Africa. It offers ride-hailing, car-sharing, scooter rentals, food delivery, and grocery services as alternatives to personal vehicle ownership.

SAIC Mobility is the ride-hailing and mobility services arm of Chinese automaker SAIC Motor, running a ride-hailing network across nearly 100 Chinese cities alongside car rental service EvCard and emerging robotaxi operations. Established in 2018 under the Xiangdao Chuxing brand, it partners with autonomous driving firm Momenta to deploy L4 robotaxis in Shanghai using Momenta's Flywheel technology. The company combines big data, AI, and smart transportation systems to build what it calls a one-stop smart mobility ecosystem, and has filed for a Hong Kong stock listing.

Shouqi Limousine & Chauffeur is a Chinese premium car-hailing service owned by Beijing's state-owned Shouqi Group, distinguished by owning its own fleet of vehicles rather than relying on independent drivers. Founded in 2015, it competes with Didi Chuxing across 53 Chinese cities with a fleet of roughly 60,000 vehicles and more than 20 million registered users, and has built partnerships with Baidu and NIO to bring autonomous driving technology and electric vehicles into its transportation ecosystem.

GO is a Japanese mobility technology company developing dispatching software and hardware for taxi operators and ride-hailing services. Headquartered in Tokyo, it supplies vehicle allocation systems, fleet management dashboards, and passenger apps integrated with major operators like Nihon Kotsu. Founded in 1973, the firm supports over 10,000 vehicles nationwide, incorporating GPS tracking and cashless payments for urban and regional transport.

eDaijia is a Beijing-headquartered mobile platform launched in 2011, connecting car owners with licensed temporary drivers for short-term services across major Chinese cities like Beijing, Shanghai, and Guangzhou.

Founded in 2012, Grab provides ride-sharing services, food and grocery delivery, and financial services (payments, consumer loans, and enterprise offerings) in eight Southeast-Asian countries through its mobile platform. The company partners with merchants and riders, connecting them with consumers while charging commission to both sides. Grab has a leading market share in and derives 89% of its revenue from its core businesses, ride-sharing and food delivery. Singapore, Indonesia, and Malaysia contributed more than 70% of revenue in 2024. Grab’s main competitors in Southeast Asia are Line Man and Goto. Its financial services business is still in its nascent stage and provides minimal revenue currently. The company now also generates advertising revenue.