Funding round
cinch Seed
cinch, which works in used and new car retail in Hook, raised $3.0M in a Seed round announced on 7 Jan 2022, led by Lionel Partners. 2 firms took part. It is cinch's second venture round on record; the one before was a Growth in May 2021.
$3.0M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
cinch did not disclose a valuation in this round. It came 8 months after cinch's Growth. It is under 1% of the $1.42B cinch has raised in the venture rounds on record. No later venture round is on record for cinch.
cinch's funding rounds
cinch has 2 venture rounds on record. This one is highlighted.
- Growth 28 May 2021 $1.42B
- Seed this round 7 Jan 2022, led by Lionel Partners $3.0M
Investors
Who put money in
Lionel Partners led the round with 1 other firm.
Lead investor
- new investor
Also in the round
- Cultivation Capital new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, sales and marketing, scaling operations and working capital.
- Hiring
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
10 Seed rounds in Automobile Dealers & Manufacturers within a year either side disclosed an amount; the median was $3.0M, and this round was close to the median. The closest in time, other companies' Seed rounds in Automobile Dealers & Manufacturers:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Automobile Dealers & Manufacturers | 10 Dec 2021 | $20M | not disclosed | not named |
| Forum Mobility Automobile Dealers & Manufacturers | 6 Dec 2021 | $7.5M | not disclosed | Obvious and Homecoming Capital |
| Automobile Dealers & Manufacturers | 12 Nov 2021 | $3.0M | not disclosed | Blume Ventures and Micelio Fund |
| Automobile Dealers & Manufacturers | 19 Mar 2022 | $2.5M | not disclosed | Qianchuang Capital |
| Automobile Dealers & Manufacturers | 28 Oct 2021 | $13M | not disclosed | TLcom Capital and 4DX Ventures |
| Automobile Dealers & Manufacturers | 22 Sep 2021 | $3.0M | not disclosed | Stellaris Venture Partners and Chiratae Ventures |
| Automobile Dealers & Manufacturers | 21 Jun 2022 | $5.0M | not disclosed | Vanedge Capital |
| Automobile Dealers & Manufacturers | 1 Jul 2022 | $2.0M | not disclosed | not named |
Sources
Where this comes from
Reported by 2 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did cinch raise in its Seed round?
cinch raised $3.0M in its Seed round, announced in Jan 2022.
Who led cinch's Seed round?
Lionel Partners led it, with Cultivation Capital.
What was cinch's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Automobile Dealers & Manufacturers?
10 Seed rounds in Automobile Dealers & Manufacturers within a year either side disclosed an amount; the median was $3.0M, and this round was close to the median.