A company has smashed through India’s ride-hailing duopoly — and created a bit of a monopoly of its own.

Rapido’s lead over its ride-hailing rivals in India has widened sharply over the past several months, with fresh data showing the bike-taxi-turned-mobility platform now commands roughly double Uber’s monthly user base and about four times that of Ola.

According to Sensor Tower data, Rapido averaged 94 million monthly active users in India between September 28 and October 27, 2026 — up 27% from the 74 million it had logged between January and February this year. Uber, by contrast, grew only marginally over the same stretch, inching up 2% to 40 million monthly active users. Ola fared worse still, with its user base shrinking 21% to 22 million.

The numbers mean Rapido now has close to 2.4x Uber’s monthly active users and well over 4x Ola’s — a dramatic reversal from a market that, until a few years ago, was largely seen as a two-horse race between Uber and Ola.

From Underdog To Market Leader

Rapido’s rise has been one of the more unusual stories in Indian consumer tech. The company started out in 2015 as a bike-taxi app, a category that Uber and Ola largely ignored, and used that beachhead to expand into autos, cabs, parcel delivery, and more recently food delivery. Its low-commission model for drivers — reportedly 0-5% compared to the 18-22% charged by Uber and Ola — has helped it pull in both riders and driver-partners at a pace its older rivals haven’t matched.

That growth hasn’t gone unnoticed in Uber’s boardroom. Uber CEO Dara Khosrowshahi said on a podcast last year that “Ola used to be our main competition. Now, the tougher competition in India is Rapido.” Uber has responded by pumping fresh capital into its India operations and extending zero-commission subscription options to its own drivers, but the user numbers suggest Rapido’s lead has only grown since.

Investors have taken notice too. Rapido tripled its valuation to $3 billion earlier this year in a $240 million round led by Prosus, with WestBridge Capital and Accel also participating — part of a larger $730 million primary-and-secondary financing that underlined investor confidence in the company’s trajectory.

Ola’s Continuing Slide

While Rapido surges and Uber holds roughly steady, Ola’s decline is the starkest trend in the data. Once India’s largest ride-hailing player and a pioneer of the category, Ola has been steadily losing ground to both Uber and Rapido over the past couple of years, and the latest numbers show that slide accelerating — a 21% drop in monthly active users in under eight months is a steep fall for a company that used to set the pace in this market.

The shift in India’s ride-hailing pecking order looks increasingly structural rather than seasonal. With Rapido now out-sizing both Uber and Ola on monthly users, and continuing to expand into new cities and new verticals like delivery, the competitive dynamics of the space look very different from just two years ago — and the gap, at least for now, keeps widening.