Most of the population in India, be it in metro cities or beyond, encounters problems in daily commuting. The roads are fraught with traffic jams, leading to higher fares and overcrowded travel options. The rising fuel cost and inflation make matters worse. Given this backdrop, Rapido, India’s largest bike taxi and auto services platform, launched its services in 2015. The objective was clear – to provide a safe, secure, convenient, and affordable alternative mode of transport in the city. Keeping the price point at nominal levels for its two-wheeler and three-wheeler services, Rapido today has 2.5 crore customers. The startup has an ambitious plan of doubling its customer base to 5 crores by the current fiscal year.
At a time of ride refusals or surge pricing, Rapido reimagined commuting for Indians in a short span of seven years since inception and became a disruptor in the Indian mobility landscape. Bike-taxis are an innovation-led model that is leading the market through unparalleled service deliveries, based on the pillars of affordability, safety, convenience, privacy, and sustainability. Bike-taxis, through their shared commuting pattern, also help in reducing carbon emissions, when compared to larger vehicles or private transports. Rapido is also on the path to converting 25% of its two-wheeler fleet by 2025 to promote sustainable mobility in India.
The pandemic impacted many businesses that were even performing well and it led to a major setback, with the situation aggravating in the second wave. The business models which emerged with an inclusive approach even during such times have set an unprecedented example for an Indian economy. Rapido has been responsible for driving financial inclusion in India by generating employment opportunities, even during Covid-19. There were myriads of people who lost their jobs during the pandemic or encountered significant pay cuts. Rapido
Rapido has been a source of income for over 1.5 million driver-partners, better known as Captains. There are many two-wheeler owners in India who have their bikes lying idle, and hence unutilized or underutilised. On the other hand, there is a burgeoning number of daily commuters looking for a fast and affordable mode of travel. Rapido has successfully created a marketplace to match the demand and supply gap in India. With its very simple onboarding procedure, anybody with a two-wheeler and a valid driving licence and required documents can become a Rapido Captain. In alignment with its policy of inclusivity, Rapido also employs women and specially abled Captains in Chennai.
The leading startup entrusts its Captains with the responsibilities of a brand custodian since they are the face of the brand. They have been empowered to be financially independent and have facilities such as bike insurance, insurance for self and dependants, helmets, loans, and bike repair provisions, among others. During Covid, brands such as Rapido stepped up and was actively involved in providing medicines and other necessities to the Captains. Throughout the pandemic, it ensured that the Captains had a steady source of income and flexibility of operations including self-chosen login and logout timings, number of rides done, etc. The Captains received online real-time payments and have a separate App, should they have any grievances or concerns.
Rapido has also risen to the occasion for all its customers when the pandemic hits in 2020 with the launch of its new services to assist the citizens. Rapido Local was conceived in May 2020 to facilitate contactless deliveries during the lockdown and social distancing. The Person-to-Person on-demand delivery service allowed for the exchange of groceries, food, and medicines, through contact-less deliveries and without the customers facing the hassles of stepping out during the pandemic. In addition, Rapido Auto was launched in October 2020 to enable safe intra-city travel. With safety and convenience at its core, Rapido offered safety / separator shields and masks, and sanitised the bikes and autos post every ride for its passengers and drivers.
India has a burgeoning population and comparatively lesser public transport. As a consequence, most of the public transports are overcrowded, particularly during peak hours. The more exclusive modes of public transport are expensive or simply refuse to ply from or to certain destinations. Owing to these challenges, Rapido has been steadily increasing its footprint in Chennai, as well. Earlier this year in March, Rapido signed a MoU with Chennai Metro Rail Limited (CMRL) for providing short distance, last-mile connectivity from metro stations for all the daily commuters. The services are provided in 22 stations in the pilot phase with a plan to expand further in the future. Typically, during rush hours, there is a long beeline for public transports. Hence, Rapido launched its services to assist such commuters to travel hassle-free and comfortably, even during peak timings, all without the worries of ride refusal.
Bike-taxis in India has been a boon and are responsible for addressing a need that customers did not even realise existed. Tapping into a white space for Rapido’s use case, the brand was able to surpass the competition and create a differentiator for itself. With its innovative offerings, empathetic policy towards its Captains and best-in-class services for an enhanced consumer experience, Rapido today is spearheading the bike-taxi segment in India and has become the country’s 3rd largest ride-hailing platform. The gap between one’s income and expenditure is lessening with the rising expenses and people need affordable yet sustainable commuting solutions in India. With the ever-increasing fuel costs on the back of macroeconomic factors and geopolitical situations, bike-taxis are all set to plug the last-mile commuting gap in India.