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Ride-hailing platform Rapido launches SaaS model for auto services

Economic Times

Economic Times · 1y ago

Ride-hailing platform Rapido launches SaaS model for auto services

Ride-hailing platform Rapido has introduced a new software-as-a-service (SaaS) model for auto services. Moving away from the commission-led aggregator model, Rapido will now charge auto drivers a daily login fee ranging from Rs 9 to Rs 29, allowing them unlimited rides without paying any commission. This move aims to onboard offline auto drivers onto the platform and tap into the potential two crore daily auto rides happening across India. Rapido aims to achieve profitability in earnings before interest, taxes, depreciation, and amortization (EBITDA) by the end of this year and projects a revenue of Rs 600 crore by FY24.

Related News

Rapido launches zero commission model for auto drivers; Know the complete details

IndianStartupNews

IndianStartupNews · 1y ago

Rapido launches zero commission model for auto drivers; Know the complete details

Ride-hailing startup Rapido has introduced a software-as-a-service (SaaS) based model for auto drivers, offering them a lifetime of zero commission. Auto drivers will instead pay a daily login fee and can undertake unlimited rides based on demand. Rapido aims to empower the drivers and maximize their earnings by removing the constraints of commissions. The company also plans to expand its services to include auto-rickshaws and rentals in select cities.

Rapido extends SaaS-based model to auto drivers

Thehindubusinessline

Thehindubusinessline · 1y ago

Rapido extends SaaS-based model to auto drivers

Rapido, a ride-hailing platform, has extended its Software-as-a-Service (SaaS)-based zero-commission model to auto drivers. Under this model, auto drivers can receive zero-commission payments from customers, paying only a daily login fee to the platform. Rapido aims to establish a sustainable business model by increasing fleet size and the number of rides, despite initial profitability challenges. The company has raised $310.4 million in funding through 10 rounds, with the latest funding led by Swiggy.

Swiggy-Backed Rapido Expands Zero Commission Model For Auto Drivers

Inc42 · 1y ago

Swiggy-Backed Rapido Expands Zero Commission Model For Auto Drivers

Rapido, the ride-hailing startup, has extended its zero commission model to auto drivers in an effort to reduce high commission rates and empower them to control their earnings. The company will charge auto drivers a daily login fee ranging from INR 9 to INR 29 and in return, drivers can do unlimited rides without paying any commission. Rapido aims to onboard offline auto drivers to its platform and transform the traditional commission system for their benefit. The SaaS model-based discovery platform will now be accessible to auto drivers, offering them a more efficient and reliable digital experience.

Uber releases SaaS model, drops auto drivers' commission: Report

Inshorts · 6m ago

Uber releases SaaS model, drops auto drivers' commission: Report

Ride hailing service provider Uber has rolled out software-as-a-service (SaaS)-based zero commission model for auto drivers across India according to a report by Inc42. The report added that this comes over a year after Rapido expanded its subscription fee-based model to autos. Uber reportedly said that it will solely act as a technology platform connecting riders with independent driver partners.

Rapido pilots cab ride hailing and hyper local delivery

Money Control

Money Control · 1y ago

Rapido pilots cab ride hailing and hyper local delivery

Rapido, a ride-hailing platform, is expanding its services to include hyper-local parcel delivery and cab services. The company is currently testing these new features in Hyderabad and plans to launch them in Bengaluru and Chennai in the coming weeks. Rapido aims to diversify its offerings beyond auto and bike taxi services. The move comes as other players in the ride-hailing industry, such as Ola and Uber, have also ventured into the parcel delivery market.

Paytm Eyeing Foray Into Ride Hailing Space With Autorickshaw Offerings, To Challenge Ola, Uber

Inc42 · 1y ago

Paytm Eyeing Foray Into Ride Hailing Space With Autorickshaw Offerings, To Challenge Ola, Uber

Paytm, the fintech giant in India, is planning to enter the ride-hailing space by offering auto rickshaw booking services through its app. The service is currently being tested with select users and might expand to include cab bookings later on. Paytm aims to launch these ride-hailing services in tier 1 cities such as Delhi, Bengaluru, and Chennai. This move will challenge the dominance of Ola and Uber in the Indian ride-hailing market, which is already facing competition from emerging players like Rapido and BluSmart. Paytm's ride-hailing venture is facilitated by ONDC-backed Namma Yatri, which offers its services to driver partners through a subscription fee model.

Namma Yatri goes live with cab service in Bengaluru

Economic Times

Economic Times · 1y ago

Namma Yatri goes live with cab service in Bengaluru

Namma Yatri, a ride-hailing firm, has expanded its services to include cab-hailing in Bengaluru. The company previously focused on auto rickshaws and offered a daily subscription model, differentiating itself from Ola and Uber. Namma Yatri already offers cab rides in Kochi and Kolkata and is now highlighting its cab booking section in Bengaluru. This move comes as competitors Ola and Uber also begin to offer subscription-based plans for auto-rickshaw drivers on their platforms, following a similar model to Namma Yatri and Rapido.

Rapido in talks to challenge Swiggy and Zomato in food delivery space

Economic Times

Economic Times · 5m ago

Rapido in talks to challenge Swiggy and Zomato in food delivery space

Ride-hailing app Rapido is exploring entry into the food delivery sector, aiming to challenge market leaders Zomato and Swiggy. Rapido is in talks with restaurateurs to devise a competitive business model and already offers delivery services to individual restaurants. Swiggy, an investor in Rapido, doesn’t have an exclusivity clause preventing this expansion. Rapido is also scaling up its ride-hailing service, targeting growth with a focus on increasing service cities and daily ride numbers.

Rapido turns unicorn post $120 million funding from WestBridge Capital

Economic Times

Economic Times · 1y ago

Rapido turns unicorn post $120 million funding from WestBridge Capital

Bengaluru-based ride-hailing platform Rapido has raised $120 million in primary capital from existing investor WestBridge Capital, valuing the company at $1 billion and making it a unicorn startup. Rapido is the third startup to achieve unicorn status this year in India. The company is expected to raise an additional $20 million from global investors. Rapido, backed by Swiggy, offers subscription-based plans for auto-rickshaw drivers and has expanded into cab-hailing services. It has raised a total of $329 million in funding so far.

Mumbai Auto Union Launches Ride-Hailing App ‘Yatri Mitra’

Inc42 · 2m ago

Mumbai Auto Union Launches Ride-Hailing App ‘Yatri Mitra’

Mumbai's Seva Sarathi Autorickshaw Taxi & Transport Union (SSATTU) and Metazen Labs have introduced 'Yatri Mitra,' a meter-based ride-hailing app for auto-rickshaw services in Mumbai and Thane. Launched in beta on June 27, the app operates on a zero-commission model. Auto drivers pay INR 25 per day to receive rides through the platform. SSATTU acts as a community partner, connecting drivers to the app, which focuses on fair pricing for commuters.

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