Tiger 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