Prosus, led by South African billionaire Koos Bekker, in talks to invest $200 million in Rapido

Prosus N.V., the global internet group chaired by South African billionaire Koos Bekker, is in advanced talks to invest about $200 million in Indian ride-hailing firm Rapido, according to people familiar with the matter.

The deal could lift Prosus’ small 3 to 4 percent stake significantly, depending on whether the investment comes in as fresh capital, secondary share purchases, or a mix of both.

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The funding round, still under negotiation, is expected to value Rapido between $2.5 billion and $2.7 billion—more than double the $1.1 billion valuation it secured in late 2024. Rapido has been widening its reach, adding food delivery to its core bike- and auto-hailing business.

Analysts estimate its gross order value has nearly doubled in the past year to around $2 billion. Monthly active users are harder to pin down, with estimates ranging from 32 million to 50 million. Citi Research puts Rapido at the higher end, ahead of Uber India’s 30 million.

The talks coincide with Swiggy’s plan to sell its roughly 12 percent stake in Rapido. Swiggy, which invested about $120 million in 2022, could pocket close to $300 million based on the new valuation. Its exit follows tensions after Rapido entered food delivery, a sector where Swiggy has a strong presence. Prosus CEO Fabricio Bloisi has recently praised Indian startups like Rapido and Meesho, saying that global investors can help them expand faster across markets.

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Prosus itself has a long track record of backing technology companies. Spun out of South African media group Naspers in 1997 and listed in Amsterdam in 2019, it is now one of the world’s largest tech investors, with holdings in fintech, e-commerce, food delivery, and education. Bekker, who owns just under 1 percent of the company valued at more than $960 million, continues to play a central role in shaping its international strategy.

The Rapido deal comes as Prosus looks to raise about $2 billion through asset sales. It has already generated around $780 million from partial sell-downs, including shares of Meituan. At the same time, the company has extended the acceptance period of its €4.1 billion ($4.73 billion) all-cash bid for Just Eat Takeaway to Oct. 1, pending approval from European regulators.