Gurgaon-based used car retailing platform Spinny today announced it has raised an undisclosed amount in funding led by former Indian cricketer Sachin Tendulkar. The car retailing platform also announced Sachin Tendulkar as a strategic investor and a lead brand endorser in the startup.
The announcement comes a week after it raised $283 million in funding at a valuation of $1.8 billion. The Series E funding round was led by Abu Dhabi-based ADQ, Tiger Global, and Avenir Growth.
The startup said the raised funds will bolster customer experience, strengthen technology and product capabilities and build teams across functions.
Launched in 2015 by Niraj Singh, Mohit Gupta, Ramanshu Mahur, and Ganesh Pawar with an aim to provide a platform where the targeted customers could buy, refurbish and sell used cars. Spinny is a digital platform used-car-buying platform enabling trustworthy and hassle-free transactions.
“Our country is becoming younger and our ambitions bigger. Entrepreneurs of today are creating solutions that cater to this ambition. I am very happy to be associated with Spinny – a team that aspires to create solutions the right way. The team has adopted timeless values to achieve excellence in their business – trust, transparency, and integrity,” Sachin Tendulkar said in a statement.
Niraj Singh, Founder & CEO, said: “His life and journey stand as a beacon for the values of tenacity and determination in the face of challenges. We strive to instill these abilities in everything we do and Spinny’s outlook on solving real customer problems. Having him on board with Spinny is absolutely heart-warming, and we are proud to welcome our newest captain of Squad Spinny, Sachin Ramesh Tendulkar.”