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Updated on: Tuesday, December 07, 2021, 04:16 PM IST

Spinny, used car retailing platform, raises $283 mn in Series E funding round

Niraj Singh, Founder & CEO, Spinny said, “Leveraging technology, our focus is to further strengthen our quality and experience control capabilities | Spinny

Niraj Singh, Founder & CEO, Spinny said, “Leveraging technology, our focus is to further strengthen our quality and experience control capabilities | Spinny

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Spinny, a used car retailing platform in India, today announced the closure of a $283 Mn Series E funding round from new and existing investors. The round was led by Abu Dhabi based - ADQ, Tiger Global and Avenir Growth.

In addition to these, the round saw participation from existing investors Feroz Dewan’s, Arena Holdings and Think Investments.

The latest round includes a primary capital infusion of $250 million and a secondary sale of $33 million by select angels and a few seed stage investors. The additional funding takes the overall funds raised by Spinny till date to more than $530 million and with this round Spinny’s valuation stands at $1.8 billion.

The newly raised capital will be deployed towards further stepping up the customer experience, strengthening technology and product capabilities and building teams across functions.

Niraj Singh, Founder & CEO, Spinny said, “Leveraging technology, our focus is to further strengthen our quality and experience control capabilities.”

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Published on: Tuesday, December 07, 2021, 01:14 PM IST
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