India, Sept. 24 -- Shortly after Swiggy's board approved a proposal to sell its entire stake in Rapido for $270 Mn (INR 2,400 Cr), the ride-hailing unicorn is now reported to be eyeing closing the funding round at $500 Mn to $550 Mn.

The round would be a mix of primary and secondary transactions, including Swiggy's stake sale, ET reported. The primary component of the deal would be of $300 Mn, with Dutch investor Prosus looking to pump in $240 Mn to $250 Mn. The remaining amount will come from WestBridge.

A separate report by MoneyControl said that Accel is also looking to participate in the round.

This comes a day after Swiggy said that it would sign share purchase agreements to offload its stake in Rapido, with Prosus buying shares w...