Spinny Acquires GoMechanic for Expansion

Spinny, a leading online marketplace for used cars in India, is set to acquire GoMechanic, a car services startup, for approximately $49.7 million. This strategic move, backed by a $160 million funding round, will enable Spinny to expand its services beyond just selling used vehicles. The funding, primarily from Fundamentum and Blume Ventures, will be used exclusively for the acquisition and platform development, without touching current cash reserves. This acquisition will allow GoMechanic to service cars bought or sold through Spinny, attracting new car owners and strengthening Spinnys position in the Indian automotive market.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.