Funding
WestBridge joins Spinny round, taking it to $170 million
By Startup Enthusiast ·
- Date
- Company
- Spinny
- What it does
- WestBridge Capital
- Kind
- Funding
- Amount
- $30–40 million
- Stage
- Series F
- Based in
- Gurugram
- Founded
- 2015
What they do
WestBridge Capital invested about $30–40 million as Spinny extended its Series F round
What happened
That lifted the round to about $170 million, with the valuation roughly flat near $1.5–1.7 billion
Why it matters
The new money followed the $131 million raised in March from Accel, Fundamentum, Tiger Global and Elevation
The details
- WestBridge Capital invested about $30–40 million.
- Series F total: about $170 million.
- Valuation: roughly flat, $1.5–1.7 billion.
- Mix of primary and secondary shares.
- Follows March’s $131 million.
The bigger picture
- A new large investor joined ahead of IPO plans.
- Flat pricing reflected tougher late-stage funding.
- It added money for lending and growth.
About the business
- Spinny buys, checks and resells used cars online and through its own car hubs.
- Almost all revenue (about 98%) comes from selling cars; the rest from commissions, services and ads.
- It also runs car loans, the GoMechanic servicing business and the Autocar India titles.
Investors
Founders
- Niraj Singh, Founder and CEO
- Mohit Gupta, Co-founder
- Ramanshu Mahaur, Co-founder and CTO
About Spinny
- Product
- A platform that helps consumers buy, sell, and exchange used cars.
- Customers
- Individual car buyers and sellers, plus dealers and OEM partners.
- How it makes money
- It earns from car sale margins, exchange activity, and related services such as financing and warranties.
- What sets it apart
- Certified inspection and a managed, end-to-end transaction experience.
- Operations
- Operates an inventory-backed and platform-assisted used-car retail network.
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