Used Cars Marketplace Spinny Bags $65 Mn To Take On Cars24, CarDekho & Co
India, April 8 -- Gurugram-based online used cars marketplace Spinny has raised $65 Mn in a Series C funding round led by Silicon Valley-based venture capital firm General Catalyst, an early backer of Airbnb, Stripe, Snapchat, Vroom, Cazoo and other startups.
Feroz Dewan's Arena Holdings and Think Investments also participated in the round, along with existing investors Elevation Capital and Fundamentum Partnership.
Spinny intends to use this funding to expand into new markers, strengthen technology, product capabilities, launch new business categories and build teams across functions. A portion of the funds raised will also be used to buy back shares from seed and pre-seed investors, the company said in a report.
"The proceeds from th...
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