Spinny gets $108 million funding from Tiger Global, others

Mumbai: Spinny, an online used car marketplace, has raised $108 million in a Series D funding round led by Tiger Global along with participation of New York-based Avenir Growth, and existing investors General Catalyst and others.

The fundraise, a mix of primary capital ($105 million) and secondary share sale ($3 million), values the Gurugram-based startup at $750-800 million, a senior company official said. Tiger and Avenir Growth invested $75 million and $20 million, respectively, while the others brought in the rest. A few angels and early backers have exited the firm.