Exclusive: Spinny receives $30 Mn from WestBridge

Venture capital firm WestBridge Capital has invested $30 million in the used-car marketplace, Spinny. This investment establishes WestBridge's position on Spinny's cap table and is part of a larger ongoing funding round. Spinny operates on a full-stack model, which gives it control over the entire car buying and selling process, from procurement and quality checks to the final transaction, offering a more trustworthy experience to customers. The fresh capital will be utilized by Spinny to further expand its physical presence in more Indian cities, enhance its technology infrastructure, and increase its inventory of certified pre-owned cars. The investment from a major fund like WestBridge underscores the strong growth potential seen in India's organized used-car market. It will provide Spinny with the necessary financial muscle to compete effectively in this rapidly growing and competitive sector.