Niraj Singh’s Net worth Rs.14470 crore who tried to win back after loosing

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Neeraj Singh has a life story similar to that of a Bollywood startup. After failing to make two startups successful in January 2014, he was ready to test his luck for the third time. But not so confident. But the third attempt was his last. As luck would have it, it grew into a very successful startup.

Singh hails from Daltonganj, Jharkhand. He was always at the top in school. He passed IIT in first attempt. Initially he joined IIT for Architect Engineering at IIT Roorkee. However, he took the exam again and got into the electrical engineering program at IIT, Delhi. Later he started his first startup.

One such startup was Locus Education, which had to be shut down after some time as it was not progressing as planned. In 2014, he had to close down his second venture. In 2016, he started Spinny, a used car marketplace. But most thought it was an extreme effort. He started a platform selling refurbished cars.

In the second year itself, the revenue of the company was Rs 4.6 crore. For this, Neeraj Singh mortgaged his house and took a personal loan. In between he was rejected 100 times by investors. Until then, they had to sell their Fortuner car and other property, also got money from family and friends. But things changed in 2019. It raised $11 million at a valuation of $26 million. A few months later they raised $38 million at a valuation of $138 million. In fiscal 2022, they raised $280 million. The company is valued at $1.75 billion or Rs 14470 crore.