Spinny closes $131 million funding round from existing investors led by Accel Leaders Fund

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Gurugram-based used-car sales platform Spinny has closed a $131 million (Rs 1,120 crore) funding round led by US-based Accel Leaders Fund at a flat valuation, people in the know said.

The funding involves primary transactions of $107 million with the proceeds going to the company against issue of fresh shares, while the rest is secondary deals where some existing investors are selling a stake.

It received the first tranche of the primary component from Accel and Nandan Nilekani’s Fundamentum, said a person in the know. The second tranche is expected…



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Spinny closes $131 million funding round from existing investors led by Accel Leaders Fund


Gurugram-based used-car sales platform Spinny has closed a $131 million (Rs 1,120 crore) funding round led by US-based Accel Leaders Fund at a flat valuation, people in the know said.

The funding involves primary transactions of $107 million with the proceeds going to the company against issue of fresh shares, while the rest is secondary deals where some existing investors are selling a stake.

It received the first tranche of the primary component from Accel and Nandan Nilekani’s Fundamentum, said a person in the know. The second tranche is expected…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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