Sachin Tendulkar becomes strategic investor in used car platform Spinny

One of the biggest names in the world of cricket belongs to our Indian batsman Sachin Tendulkar and after retiring from the sport he has been venturing into new fields. This week, Spinny, the pre-owned car retailing platform announced that the master blaster Sachin has joined their company as a strategic investor and lead brand endorser.

Sachin Tendulkar becomes strategic investor in used car platform Spinny



However, the company has refrained from revealing the exact amount of Tendulkar’s investment. Spinny’s founder, and CEO, Niraj Singh said, “Having him onboard with Spinny is absolutely heart-warming, and we are proud to welcome our newest captain of squad Spinny, Sachin Ramesh Tendulkar,”

Spinny currently has a valuation of $1.8 billion after it finished the series E funding round. This funding round was led by investors like the Abu Dhabi-based ADQ, Tiger Global, and Avenir Growth. It also included some of the existing investors of the company as well. The company has now become a Unicorn startup after successfully acquiring $283 million from this round.

Sahin Tendulkar in the release said, “Our country is becoming younger and our ambitions bigger. Entrepreneurs of today are creating solutions that cater to this ambition. I am very happy to be associated with Spinny – a team that aspires to create solutions the right way. The team has adopted timeless values to achieve excellence in their business – trust, transparency, and integrity. I am now a part of this family, and together we hope to keep getting better every day in everything we do,”

Spinny which is based out of Gurgaon is a new startup that facilitates online buying and selling of used cars. It was founded in 2015 by Niraj Singh, Mohit Gupta and Ramanshu Mahuar. The startup is currently operational in major Indian cities like Bangalore, Delhi-NCR, Hyderabad, Pune, Mumbai, Ahmedabad, Kolkata, and Chennai. The Gurgaon based unicorn aims to simplify the process of buying and selling used cars. It eliminates all the unnecessary charges and paperwork which generally hampers the used car buying experience. The company aims to provide each and every one of its customers a unique and personalized experience, along with the highest quality of cars with transparency, and accountability.

The brand reported that in 2020, they were able to sell more than 9,100 cars. While in the first six months of 2021, it managed to sell more than 20,000 vehicles. The company added that they have been selling more than 2,000 cars a month consistently and are aiming to sell around 35,000 cars this year.

Apart from Sachin Tendulkar, Spinny also announced its association with Indian badminton player PV Sindhu. The company also added that its endorsers along with its customers will be leading a series of marketing initiatives over the course of next year.