New Delhi
The company said the raised capital would be utilized to bolster the customer experience, strengthen technology and product capabilities and build teams across functions.
The Series E round was led by Abu Dhabi-based ADQ, Tiger Global, and Avenir Growth, along with participation from existing investors Feroz Dewan’s, Arena Holdings and Think Investments, the company said in a statement.
“We set afoot to build Spinny with a customer-first approach - solving for lack of trust in car buying and selling experience, with a highly personalized and detail-oriented approach. Leveraging technology, our focus is to further strengthen our quality and experience control capabilities,” said Niraj Singh, Founder, and CEO, Spinny.
The latest round includes a primary capital infusion of $250 mn and a secondary sale of $33 million by select investors.
The additional funding takes the overall funds raised by Spinny to date to more than $530 million.
Founded in 2015, Spinny operates across the entire value chain of pre-owned cars, embedding superior technology and processes to deliver a premium experience to customers.
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