Bike taxi startup Rapido has been making great strides as it continues to expand its presence pan India, offering last-mile connectivity.
While the revenue surged for Rapido, the company also posted a 5X increase in losses for this financial year.
As opposed to Rs 10.34 crore loss reported last year, the losses widened to Rs 53.29 crore in the financial year ended March 31, 2019.
From Rs 11 crore expense it incurred in FY18, Rapido’s expenses for FY19 increased to Rs 63.93 crore.
Most recently, the two-wheeler ride-hailing startup forayed into the national capital Delhi, announcing that its prime focus will be within central and south Delhi.

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