Spinny acquired VC-backed rival Truebil

Spinny, a pre-owned car platform which secured a Series B cheque from a Nandan Nilekani-backed investment firm earlier this year, has now acquired the smaller rival Truebil.

The deal is in a combination of equity and cash, without disclosing any other details.

Both the Truebil and Spinny have a bunch of venture capital backers. Spinny counts the Nilekani based Fundamentum Partnership, Accel, Sai Partners among its investors.

Truebil is backed by the investors, which include the Inventus Capital, Kae Capital, Kalaari Capital, and others.

Spinny, operated by the Yellow Drive Technologies Pvt Ltd, was founded in the year 2015 by the Mohit Gupta, Neeraj, and Ramanshu.