Rapido, a bike-taxi startup known for its significant market share in this segment, has made a strategic move into the cab business with the launch of Rapido Cabs. This intra-city mobility solution, operated through a Software as a Service (SaaS) model, introduces an initial fleet of 1 lakh vehicles.
Pavan Guntupalli, Co-founder of Rapido, highlighted the innovative approach of their SaaS-based platform, which aims to revolutionize the conventional commission system for drivers. This model aims to address the challenge of commission sharing with aggregators. The platform ensures that drivers only incur a minimal software usage fee, marking a notable shift in the industry's dynamics.
Rapido's platform connects drivers directly with customers, emphasizing a marketplace without Rapido's control. Within this ecosystem, drivers receive payments directly from customers without interference from the company.
Drivers are required to pay a nominal subscription fee. Once drivers earn Rs 10,000 from the Rapido app, they will face a modest subscription fee of Rs 500, as per the company's statement.
In the cab segment, passengers can benefit from competitive fares through this SaaS-based platform. The platform consolidates various commuting solutions into a single, user-friendly app, offering a comprehensive range of options for users.
Established in 2015, Rapido now operates in over 100 cities and boasts over 25 million app downloads. According to data from Tracxn, the company has raised a total of $324 million, with a significant investment of $180 million in April last year led by Swiggy, an online food delivery service.
(With Agency Inputs)