Spinny raises $248M, Becomes a Unicorn

According to papers with the Registrar of Companies, used automobile marketplace Spinny has collected Rs 1,849.45 crore ($248 million) from returning and new investors as part of its Series E round. The Gurugram-based business has now become the 39th unicorn, with a valuation of $1.7 billion.

Abu Dhabi Growth Fund and Tiger Global, a returning investor, co-led the round with each investing about Rs 740 crore. Avenir Growth and Arena Holdings are two other investors in the round, each investing Rs 185 crore.

Spinny bought Truebil, a customer-to-customer used car marketplace, in August 2020. Spinny was founded in 2015 by Niraj Singh, Mohit Gupta, and Ramanshu Mahaur.

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