Spinny

Spinny

Online marketplace for purchasing pre-owned cars.

Founded

2015

Headquarters

Gurugram (India)

Status

Series E

Company Details

Website

Socials

Email

Phone

7277277275

Spinny is a used-car retail marketplace that operates in the automotive and e-commerce industry It’s part of the booming $200+ billion global used car market, and in India alone, this sector has been shooting up for years making it the perfect space for a company that stands for reliability in a fragmented industry. Spinny caters to a couple of clear groups: individual buyers looking for good-quality, warranty-backed cars (without the usual haggling and worry) and sellers people who want a smooth experience, fair valuation and no hassle on their used vehicles. Their unique value proposition boils down to this: spin the wheel of chance out of used-car shopping. Customers get inspected, certified machines with transparent pricing—and a fair shot at a good deal.

Core Products and Services

  • Fully Inspected, Certified Cars: Every Spinny car goes through a 300-point check, covering engine, body, interiors, safety, and electronics. They’re fixed up in-house where needed, given a deep clean, and then listed. It’s like buying a used car—but one you can actually trust won’t break down next week.
  • Warranties & Assurances: Spinny backs its cars with a comprehensive warranty, plus no-questions refunds in case things go sideways. It's a safety net that stops people from feeling like they're crossing a line when buying second-hand.
  • Financing & Insurance: They also help buyers get financing and insurance, right on the platform. No running between banks and agents—just a few clicks, a cup of chai, and your loan is sorted.
  • Home Test Drives & Delivery: One of the more modern comforts: test drives from your driveway, followed by the option of doorstep delivery once you decide to buy. It's the kind of convenience many people didn’t think existed for used cars.
  • Post-Purchase Service: Even after the sale’s done, customers can lean on Spinny for maintenance packages, service reminders, and ongoing help. That “you’re covered” feeling goes beyond the first handshake or key handover.

Business Model and Revenue Streams

  • Direct-to-Consumer Sales: Spinny buys cars directly from sellers—which might be individuals or fleet-leasing companies—refreshes them, and resells at a marked-up yet fair price. Their margin comes from the difference between the purchase price and the buyer’s price.
  • Inspection & Refurbishment Fee: The inspection, refurbishment and certification process involves costs—both in parts and labor. These are baked into their offers and help keep the cars up to standard.
  • Warranty & Service Packages: Spinny sells extended warranties and service packs alongside each car, giving buyers optional add-ons—and the company another steady revenue stream.
  • Financing and Insurance Commissions: By facilitating loans and insurance, they earn commissions from banks and assurance companies. It’s a small but reliable slice of every sale.
  • Subscription & SaaS Services for Dealers: They’ve also rolled out B2B offerings—providing dealer-partners with services like inventory management, financing facilitation, logistics and refurbished car listings. It’s a long-term revenue play that builds relationships within the used-car ecosystem.

Key People

Niraj Singh

Ramanshu Mahaur

Mohit Kataria

Shweta Singh

Mohit Gupta

Key Metrics

Total Equity Funding

$661 Million

No. of Funding Rounds

15

Latest Funding Round

$30 Million, Series F

as of June 25, 2013

Post Money Valuation

$1.67 Billion

as of November 1, 2024

Funding Multiple

2.53×

as of November 1, 2024

Investors

Accel

and 3 more

Employee Count

4007

Similar Companies

Hala Mobility

Exit Details

N/A

All Funding Rounds

DateRound NameAmountValuationRevenueRevenue Multiple
Investors
June 25, 2013Series F$30 Million---WestBridge Capital
April 1, 2025Series E$110 Million---Accel, Elevation Capital, Tiger Global Management, Fundamentum
November 24, 2021Series E$283 Million$1.67 Billion-- Tiger Global Management, Avenir Growth Capital, Arena Holdings, Timf Holdings, Somerville, Think Investments
July 8, 2021Series D$108 Million$687 Million-- Tiger Global Management, Avenir Growth Capital, Simile Venture Partners, FJ Labs, General Catalyst, Kaiser Permanente Ventures, Somerville
March 22, 2021Series C$65 Million$280 Million-- General Catalyst, Timf Holdings, Elevation Capital, Fundamentum, Arena Holdings, Blume Ventures, Somerville, Think Investments
February 5, 2021Series B$58.5 K$118 Million--xto10x
February 25, 2020Series B$4.9 Million$120 Million-- KB Investment
September 28, 2019Series B$43.7 Million$120 Million-- Fundamentum, Accel, Norwest Venture Partners, General Catalyst, Blume Ventures, Alteria Capital, Elevation Capital
April 19, 2019Series A$13.2 Million$24.7 Million-- Accel, Elevation Capital, Alteria Capital, Blume Ventures, Simile Venture Partners
June 6, 2017 Seed$1.4 Million--- Blume Ventures, Indian Angel Network

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