<ul><li>Rapido, a Bengaluru-based ride-hailing startup, is set to raise ₹125.2 crore from Nexus Ventures to expand into food delivery and fintech.</li><li>The capital injection involves issuing Series E Compulsorily Convertible Preference Shares at a premium valuation, following previous fundraises that valued the company as a unicorn.</li><li>Rapido aims to launch a food delivery platform with lower commissions than Zomato and Swiggy and is building a fintech subsidiary focusing on lending and financial services.</li><li>The company also plans to scale its ride-hailing operations from 120 to 500 cities, increasing competition with Uber, Ola, and Namma Yatri in India's urban mobility market.</li></ul>

Rapido to Raise ₹125 Crore from Nexus Ventures, Eyes Expansion into Food Delivery and Fintech

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