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Kul Bhushan · · 1 min readTiger Global leads $100m round of Indian used-car marketplace
“Full-stack used-car retailing platform Spinny has raised over US$100 million in its series D round led by Tiger Global,” Entrackr reports.
Details
- Tiger Global contributed about US$75 million of the raised amount.
- Avenir Growth and General Catalyst invested US$17 million and US$10 million, respectively. FJ Labs and GC DF Ventures also chipped in.
Dive deeper
- The five-year-old startup has so far secured more than US$220 million from investors such as General Catalyst, Elevation Capital, Accel Partners, and The Fundamentum Partnership.
- Spinny uses an online-to-offline model, enabling customers to search for cars on its platform and make a purchase offline.
- India’s used-car marketplaces have seen a rise in interest from investors as of late. According to a recent report, used-car unicorn Cars24 is in talks with Yuri Milner’s DST Global and other investors to raise up to US$250 million.
See Also: Carsome and Carro: A neck-and-neck race to transform how people buy cars
Editing by Miguel Cordon and September Grace Mahino
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