Spinny, an Indian online marketplace for used cars, is raising around $160 million as it moves to acquire car services startup GoMechanic, TechCrunch has learned. The Series G round, which includes a mix of primary and secondary transactions, would value the 10-year-old startup at about $1.8 billion post-money, three people familiar with the matter said, broadly in line with its previous valuation.
In March, Spinny raised $131 million in the first part of its Series F round led by Accel, with participation from Fundamentum, before expanding the raise to about $170 million in June to include WestBridge Capital. Those funds were earmarked to scale Spinny’s core used-car business. For Spinny, acquiring GoMechanic would deepen its control across the used-car value chain. The Gurugram-based startup has built a large consumer-facing business, selling about 13,000 used cars a month, primarily directly to buyers and, to a lesser extent, to dealers through its auction platform.
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