Used car platform Spinny has raised $131 million driven by US-based Accel Leaders Fund, concurring to two sources familiar with the fundraise.

“Spinny is raising $110 million as essential subsidizing, whereas the remaining $21 million will be auxiliary, which incorporates ESOP buybacks and exits for early backers,” said a source asking anonymity. “Accel Leaders has contributed $75 million, with the rest coming from Elevation, Tiger Global, Fundamentum, and other existing investors.”

Administrative filings appeared that Accel Leaders Holdings has pumped in about $49 million whereas Fundamentum has put in $3 million.

As per sources, Spinny will be esteemed at around $1.5 billion post cash. Gurugram-based Spinny operates a full-stack show, controlling the whole supply chain for utilized car deals. Its stage encourages vehicle inspection, refurbishment, documentation, and back. Sources included that the stage offers near to 7,000 cars each month with a normal exchange estimate of around 6 lakhs. It too offers around 5,000 more cars each month on its B2B auction platform. As per startup information insights stage TheKredible, Spinny has raised roughly $500 million so far away. Tiger Global and Accel stay its biggest partners, holding 14.25% and 13.25%, separately. For the financial year finishing March 2024, Spinny's income from operations rose to Rs 3,725.02 crore from Rs 3,259.78 crore in FY23. Amid this period, its misfortunes declined by 28% to Rs 590.37 crore.

Gurugram-based Spinny operates a full-stack show, controlling the whole supply chain for utilized car deals. Its stage encourages vehicle inspection, refurbishment, documentation, and back.

Sources included that the stage offers near to 7,000 cars each month with a normal exchange estimate of around 6 lakhs. It too offers around 5,000 more cars each month on its B2B auction platform.

As per startup information insights stage TheKredible, Spinny has raised roughly $500 million so far away. Tiger Global and Accel stay its biggest partners, holding 14.25% and 13.25%, separately.

For the financial year finishing March 2024, Spinny's income from operations rose to Rs 3,725.02 crore from Rs 3,259.78 crore in FY23. Amid this period, its misfortunes declined by 28% to Rs 590.37 crore.