Spinny enters unicorn club with $283 mn fundraise at $1.8 bn valuation

The latest round includes a primary capital infusion of $250 million and a secondary sale of $33 million by angels and a few seed stage investors

Used car retailing platform Spinny has raised $283 million in its Series E funding round from new and existing investors. The round was led by Abu Dhabi-based ADQ, Tiger Global and Avenir Growth.

The round includes a primary capital infusion of $250 million and a secondary sale of $33 million by angels and a few seed-stage investors. The additional funding takes the overall funds raised by Spinny so far to more than $530 million and with this round Spinny’s valuation stands at around $1.8 million.

The company said the gross merchandise value (GMV) on its platform in CY 2021 has