Rapido, a Bike-taxi company have announced its entry into the cab business, with the launch of Rapido Cabs- an intra-city, SaaS-based mobility solution.
With almost 60 per cent market share in bike taxis, the company has expanded its footprint with cab services in the country and has introduced an initial fleet of 1 lakh vehicles in the Indian market.
Pavan Guntupalli, Co-founder of Rapido said, “Our innovative SaaS-based platform revolutionizes the conventional commission system for drivers, tackling the persistent challenge of commission sharing with aggregators. This pioneering approach ensures that drivers incur only a minimal software usage fee, marking a significant shift in the industry.”
The SaaS-based platform enables the user to connect with the drivers and customers without deploying control over the marketplace. Within the Rapido ecosystem, drivers enjoy direct payment from customers, free from any interference by Rapido.
Drivers willing to register on Rapido- What has to be done?
Drivers are required to pay a nominal subscription fee. Once they reach earnings of around Rs 10,000 from the Rapido app, then they will be subjected to a modest subscription fee of Rs 500, the company said.
Rapido said, “Simultaneously, passengers benefit from competitive fares in the cab segment, as the all-encompassing SaaS-based platform consolidates various commuting solutions into a single, user-friendly app.”
Rapido was founded in 2015, and it operates in more than 100 cities in India. It has more than 25 million app downloads by the time of writing.
As per the data available on Tracxn, Rapido has reportedly raised around USD 324 million in total. In April 2022, the company raised around USD 180 million which was led by Swiggy- the online food delivery service.
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Inputs from IANS
