MUMBAI, May 15 -- Roppen Transportation Services Pvt. Ltd, which operates Rapido, has raised $240 million in fresh capital in a round led by Prosus, with participation from WestBridge Capital, Accel and other investors, the company said in a statement on Friday.

The fundraise is part of the mobility startup's broader $730 million primary and secondary financing round, valuing the company at $3 billion on a post-money basis. Mint first reported in September that Prosus was leading the round.

"This investment is about accelerating our ability to unlock both these structurally. We are going deeper into markets where demand exists, but supply remains fragmented, building the density that gives captains reliable, predictable earnings," Rapid...