India’s Spinny lines up $160 million funding to acquire GoMechanic

Team S · 2025-12-29T08:34:20.000Z

Spinny, a Gurugram-based online marketplace for used cars, is raising around $160 million in a Series G funding round to finance its planned acquisition of car services startup GoMechanic, according to people familiar with the matter. The capital raise - a mix of primary and secondary transactions - would value the ten-year-old company at about $1.8 billion post-money, largely in line with its previous valuation. Of the roughly $160 million, approximately $90 million is being raised as primary capital, with existing investor Accel committing about $44 million to that portion, as shown in Indian regulatory filings. WestBridge Capital is also participating, doubling down with a check comparable in size to its earlier investment in Spinny’s Series F round. A new investor is expected to contribute the remainder of the primary raise, though their identity has not been confirmed. On the secondary side, much of the selling is coming from early backer Fundamentum, while Blume Ventures is also expected to pare part of its stake rather than reinvest in the new round. The fresh funds are earmarked primarily to finance the planned acquisition of GoMechanic and to invest in scaling its platform, rather than drawing on Spinny’s existing cash reserves. Earlier reports suggested the GoMechanic deal could be valued at around ₹4.5 billion (about $50 million) in a mix of cash and stock. For Spinny, adding GoMechanic would help vertically integrate after-sales servicing into its used-car marketplace model, potentially providing a two-way funnel for customers and a more seamless owner experience. #funding #SeriesG #acquisition #Spinny #GoMechanic #usedcars #India #Accel #WestBridgeCapital #Fundamentum #BlumeVentures

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India’s Spinny lines up $160 million funding to acquire GoMechanic | Newnex