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Rapido Looks To secure $75 Mn From Xiaomi

Rapido is now in talks to secure $75 million in the funding round led by the Chinese smartphone market Xiaomi, along with some other existing investors such as the China Shunwei Capital.

According to the report which has been revealed, if the transaction goes successful, then the Rapido valuation is expected to stand at around $300 million.

A report revealed that the discussions about the round are still going on, Rapido might secure more capital, close to $100 million, given its performance in the recent times.

“Rapido is growing really fast, and while they are not reaching profitability, they have still been able to maintain margins well,” the source mentioned earlier was quoted as saying.

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