In an effort to promote gender diversity and inclusivity in the ride-hailing sector, Rapido, a bike and auto-rickshaw aggregator, is embarking on a plan to onboard 200 women drivers in Coimbatore over the next three months.
Empowering Women Through Ride-Hailing
Currently, Rapido Auto boasts 50 female ‘captains,’ representing a diverse spectrum of backgrounds, who offer their ride-hailing services in the city. Building on this foundation, Rapido aims to significantly bolster its female driver presence by adding more than 200 active captains within the next three months. This expansion will be realized through partnerships with various non-governmental organizations (NGOs) based in Coimbatore, according to a company statement.
Safety and Skill Enhancement
To ensure that the women captains are well-prepared for their roles, Rapido will provide comprehensive training programs in collaboration with the partnering NGOs. These initiatives will equip the drivers with essential safety and driving skills, enhancing their capabilities and confidence.
Financial Support and Benefits
In a bid to empower women in the ride-hailing sector, Rapido plans to introduce micro-loans and family health insurance specifically tailored for women auto captains operating in Coimbatore. This endeavor aims to provide financial security and support to the women drivers.
Promoting Economic Independence
Through this initiative, women drivers can potentially earn between Rs 800 and Rs 1,000 per day, translating to a monthly income ranging from Rs 25,000 to Rs 30,000. Rapido is dedicated to fostering gender empowerment and inclusivity, and this initiative aligns with the company’s vision of making transportation accessible, affordable, and safe for all.
Rapido’s Commitment to Inclusivity
Pavan Guntupalli, Co-founder of Rapido, emphasized the company’s dedication to promoting gender diversity and inclusivity in the ride-hailing industry. He stated, “Our future initiatives, including micro-loans, family health insurance, and reduced commissions, are a testament to our commitment. By providing financial support, we aim to empower women auto captains.”
Financial Snapshot of Rapido
In January, it was reported that Rapido, headquartered in Bengaluru, witnessed an increase in losses, which widened 2.6 times in FY22 to reach Rs 439 crore, as per the company’s annual financial statement. Despite the widening losses, Rapido’s revenue grew substantially, reaching Rs 144.8 crore during the last fiscal year. This marked a growth of over 90% from the Rs 75.6 crore in revenue recorded in FY21. The company also reported earning Rs 13.2 crore in interest on current investments and other non-operating income in FY22.
Diverse Service Offerings
Rapido’s revenue generation comes from a variety of services, including bike taxis, auto-rickshaws, and delivery services, along with income from subscriptions and marketing initiatives.
In its commitment to gender diversity and financial empowerment, Rapido is taking significant strides to create opportunities for women drivers in the Coimbatore region, fostering a more inclusive ride-hailing ecosystem.
