Funding round
cinch Growth
Reported as "Growth Equity"
cinch, which works in used and new car retail in Hook, raised $1.42B in a Growth round announced on 28 May 2021. 4 firms took part. It is cinch's first venture round on record.
$1.42B
Amount raised
1,000,000,000 GBP converted
Not disclosed
Post-money valuation
4
Investors
no lead named
Valuation
What this round says about the price
cinch did not disclose a valuation in this round. It is cinch's first venture round on record, 3 years after it was founded in 2018. It is 100% of the $1.42B cinch has raised in the venture rounds on record. cinch raised again 8 months later: a Seed round of $3.0M in Jan 2022.
cinch's funding rounds
cinch has 2 venture rounds on record. This one is highlighted.
- Growth this round 28 May 2021 $1.42B
- Seed 7 Jan 2022, led by Lionel Partners $3.0M
Investors
Who put money in
4 firms took part; no lead investor was named.
Investors
- Abu Dhabi Investment Authority backs 19 venture-backed companies new investor
- GIC backs 98 venture-backed companies new investor
- Neuberger Berman new investor
- Soros Fund Management LLC new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion.
- Geographic expansion
Comparable rounds
How it compares
The closest in time, other companies' Growth rounds in Automobile Dealers & Manufacturers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Zeekr Automobile Dealers & Manufacturers | 27 Aug 2021 | $500M | $9.00B | Intel Capital |
| Automobile Dealers & Manufacturers | 13 Dec 2020 | $245M | $740M | MSP Sports Capital |
| Automobile Dealers & Manufacturers | 1 Nov 2020 | $120M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did cinch raise in its Growth round?
cinch raised $1.42B in its Growth round, announced in May 2021.
Which investors took part in cinch's Growth round?
Abu Dhabi Investment Authority, GIC, Neuberger Berman and Soros Fund Management LLC.
What was cinch's valuation at the Growth round?
It was not disclosed.
Did cinch raise again after this round?
Yes: a Seed round in Jan 2022 of $3.0M.