An important milestone in the nation’s mobility and ride-hailing ecosystem has been reached by Rapido, the top bike-taxi company in India, which has formally declared that it is now larger than Uber. The company’s CFO claims that Rapido has surpassed international competitor Uber in the two-wheeler mobility market thanks to its quick growth, robust adoption in Tier-2 and Tier-3 cities, and variety of mobility options.

Rapido is preparing for a public listing over the next two years, supported by steady growth, enhanced financial measures, and expanding market domination, according to the CFO.

Related: Manufacturing Company Zetwerk Hires Banks For IPO Filing Next Year

As the biggest two-wheeler transportation platform in India, Rapido has solidified its position. Rapido has established its success on bike taxis, car rides, and fast intracity mobility, particularly where affordability matters most, in contrast to global giants that largely focus on four-wheelers.

Rapido’s monthly ride volume and market share in the bike-taxi sector have greatly surpassed Uber’s, according to the CFO, due to:

• High daily commute frequency,
• Quicker service in crowded places,
• Cheaper than taxis, and
• Strong uptake among students and office workers.

One of the largest mobility listings from India in recent years is anticipated to be Rapido’s impending IPO.
According to the CFO, the company is concentrating on:

• Bolstering its revenue stream,
• Enhancing unit economics
• Increasing revenue,
• And expanding one’s national reach.

With a target schedule of 18 to 24 months, the company hopes to complete all financial and regulatory requirements for a public listing.

Rapido’s speedy entry into Tier-2, Tier-3, and emerging markets—where there is a strong need for quick and inexpensive transportation options—is a key factor in its success.

The expansion strategy of the startup consists of:

• Expanding its fleet of autorickshaws,
• Introducing features for shared mobility,
• Enhancing the integration of digital payments,
• And establishing new collaborations throughout the city.

Rapido is gaining a bigger market share in India’s transportation industry and establishing a strong brand presence thanks to this expanded mobility offering.

Rapido’s victory over Uber in the bike-taxi and micro-mobility sectors is indicative of India’s evolving transportation market, where speed, cost, and convenience are key components. Rapido is well-positioned to become one of the most significant mobility startups in India in the upcoming years thanks to its IPO preparations and strong client base around the nation.