WestBridge joins Spinny’s ongoing round with $30 Mn funding

Used car platform spinny has raised $30 million (around INR 256 Cr) in its ongoing Series F funding round from WestBridge Capital.

With this funding, the startup has completed its Series F round, raising $170 million through a mix of new and existing share sales.

In April, Spinny raised $131 million in the first part of this round, led by US-based Accel Leaders Fund, with Nandan Nilekani’s Fundamentum also participating. At that time, the startup’s post-money valuation was between $1.7 and $1.8 billion.

Read also- PlutoPe Secures Rs 5 Cr In Pre-seed Round

This matches its previous valuation of $1.8 billion from December 2021, when it became a unicorn after raising $283 million in a round led by ADQ, Tiger Global, and Avenir Growth.

About Spinny 

Founded in 2015 by Neeraj Singh, Mohit Gupta and Ramanshu Mahaur, Spinny is a used-car retail platform with over 36 car hubs, operating in 22 Indian cities such as Delhi, Gurugram, Noida, Bengaluru, Mumbai, Pune, Hyderabad, Chennai, Kolkata, and Ahmedabad.

So far, it has raised over $664.2 million and is backed by investors like Tiger Global, General Catalyst, Abu Dhabi Growth Fund, Accel Partners, and Avenir Growth Capital.

Recently, the company acquired Autocar India, an auto media and car content platform, and also launched its own NBFC, a fully owned subsidiary of the parent company.

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