Bengaluru: The former Spinny car platform said on Tuesday it had collected $ 283 million in the funding round led by ADQ and Global Tiger based in Abu Dhabi, providing a used car retail platform of around $ 1.8 billion.
The round includes the main capital infusion of $ 250 million and secondary sales of around $ 33 million by certain investors, Spinny said in a statement sent by email.
Established in 2015, Spinny allows people to sell their used cars on online portals, allow potential buyers to choose from more than 2,000 used models and order test drives.
The company has sold more than 20,000 cars, according to its website.
Startup has reared in 2021 and some have crossed an assessment of $ 1 billion, entering what is called the “Unicorn” club.
Zomato Food Shipping Company and Fashion Company E-commerce Nykaa is one of the high-profile names that has seen this year’s Blockbuster market debut.
Spinny said it would use fresh funds to improve customer experience and improve the technology and its products.
The used-car platform has 23 car hubs and operates in 15 cities, including Delhi, Mumbai and Bengaluru.
The company also offers financing options for buyers, including used car loans.
Platform-used Spinny Cars worth $ 1.8 billion in new funding rounds
