Gurugram-based retail platform for used car Spinny has announced that it has raised $108 million in Series D funding round led Tiger Global. Existing investor General Catalyst, Avenir Growth, among others also participated in the latest round.
A company statement informed, “the round saw a primary capital infusion of $105 million, and a secondary sale of $3 million by select angels and early-stage investors. Tiger Global and Avenir Growth invested $75 million and $20 million respectively in the round.”
The statement further said, “Spinny will deploy this capital for strengthening its technology and product capabilities, market penetration and hiring of talent. The company also aims to increase its geographic footprint in the country.”
Speaking on the investment, founder & CEO of Spinny – Niraj Singh commented, “Having a customer-first approach has been our differentiator, and we will continue to focus on improving our quality and experience control capabilities. We are delighted to have new partners on board our rocketship.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.