Spinny, a used car retailing company has been funded a beneficial amount of $43.7M funding led by Fundamendum Partnership(FP) founded by Nandan Nilekani and Sanjeev Aggarwal in 2015.

The funding round will be participated by US-based General Catalyst Partners, South Korea-based KB Financial Group and existing backers Accel, Saif Partners and Alteria Capital.

The round scales the company at nearly $140-$150 million said the source.

The company is an online platform for Pre-owned cars where the customers can find cars on its website and make the final purchase offline at a Spinny Car Hub. Once a customer books the car, the company takes care of all the paperwork, including free RC transfer, and provides financing options via tie-ups with reputed banking partners.

Spinny is present in four cities and has sold almost 10,000 cars through its marketplace. The Company says it will use the funds to invest in technology, build up its workforce and expand to different parts of the cities.

Niraj Singh, Co-Founder,and CEO of Spinny, said that he wishes to be the market leader in the used car business platform and provide the customers with athe best reliable, honest and trouble-free services.

According to the company policy every car listed on its platform comes with a 200-point inspection check-list, five-day no questions asked money-back guarantee and one-year after-sales warranty.

Spinny competes with Cars24, CarDekho, Droom ,and Olx.