Spinny Revenue, Valuation, Funding & Investors
Spinny is valued at $1.8B as of December 2025, a 3.6x multiple on its last reported $498M revenue.
Last Spinny valuation
$1.8B
Series G · Dec 2025
Last Spinny funding round
$90M
Series G · Dec 2025
Spinny revenue
$498M
Series G · Dec 2025
Key investors in Spinny
Accel
Elevation Capital
General Catalyst
Tiger Global
Think Investments
Fundamentum
About Spinny
Spinny is a Gurgaon-headquartered used car platform in India executing end-to-end transactions with 360-degree inspections and fixed pricing. Founded in 2015, it operates 74 experience centers in 19 cities including Bangalore, Delhi, and Mumbai, selling over 100,000 vehicles annually. The full-stack model covers sourcing, refurbishing via Spinny Assured program, financing partnerships with HDFC and Axis Bank, and home delivery within 60 minutes.
Founded
2015
HQ
GurgaonWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Revenue
$498M (Dec 2025)
Valuation
$1.8B (Dec 2025)
Spinny Valuation
Spinny is currently valued at $1.8B, based on its Series G in December 2025.
The $90M round included WestBridge Capital and Accel.
Spinny's valuation has grown 12x from $150M at its Series B in September 2019 to $1.8B in December 2025, across 8 priced rounds.
Spinny valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Dec 2025 | Series G | $1.8B | 3.6x |
| Mar 2025 | Series F | $1.8B | 3.5x |
| Mar 2025 | Secondary | $1.7B | 3.4x |
| Nov 2021 | Secondary | $1.8B | 3.5x |
| Nov 2021 | Series E | $1.8B | 3.5x |
| Jul 2021 | Series D | $800M | - |
| Apr 2021 | Series C | $350M | - |
| Sep 2019 | Series B | $150M | - |
Spinny Revenue
Spinny's latest recorded revenue is $498M, as of its Series G in December 2025. At a $1.8B valuation, that implies a 3.6x revenue multiple.
Revenue moved from $498M in November 2021 to $498M in December 2025, while the revenue multiple moved from 3.5x to 3.6x.
Spinny revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Dec 2025 | $498M | $1.8B | 3.6x | Series G |
| Mar 2025 | $498M | $1.8B | 3.5x | Series F |
| Mar 2025 | $498M | $1.7B | 3.4x | Secondary |
| Nov 2021 | $498M | $1.8B | 3.5x | Secondary |
| Nov 2021 | $498M | $1.8B | 3.5x | Series E |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Spinny Funding History
Spinny has raised a total of $715M across 8 funding rounds, plus 3 secondary share sales.
Spinny's first fundraising round was a $1M seed round in June 2017. The most recent completed round was a $90M Series G in December 2025.
Spinny funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2025 | Secondary | - | $50M | - | - |
| Dec 2025 | Series G | WestBridge Capital; Accel | $90M | $1.8B | Spinny is a Gurugram-based used car marketplace founded in 2015 that operates a full-stack platform covering vehicle sourcing, refurbishment, financing, and after-sales service. The company raised $170 million in a Series F round led by Fidelity Investments and Accel Leaders Fund in December 2025, with WestBridge Capital joining as a significant participant. Of the $170 million total, $90 million came as primary capital directly into the company, while the remaining $80 million comprised secondary transactions where early investors Blume Ventures and Fundamentum sold portions of their stakes to Fidelity and WestBridge. The round valued Spinny at approximately $1.5 billion post-money, representing a modest valuation decline from the $1.7 billion valuation in the prior $131 million funding round completed earlier in 2025. In fiscal year 2025, Spinny demonstrated significant operational progress with revenue reaching INR 4,657 crore, representing 25% year-over-year growth, while net losses narrowed substantially by 28% to INR 424 crore. Since its inception, Spinny has raised over $676 million from prominent investors including Tiger Global, Elevation Capital, General Catalyst, and former cricket legend Sachin Tendulkar who joined as a strategic investor in December 2021. |
| Mar 2025 | Series F | Accel (lead); Think Investments; Elevation Capital; Fundamentum; Tiger Global; Westbridge Capital | $149M | $1.8B | Spinny is a Gurugram-based used-car sales platform founded in 2015 by Mohit Gupta, Niraj Singh, and Ramanshu Mahaur, offering an online marketplace for pre-owned vehicles with services like refurbishment, servicing, health checks, and advertising. It competes with Cars24, CarDekho, CarTrade, and ZigWheels in India's growing used-car market, expected to expand 8-10% in FY26 per Crisil Ratings. For FY25 ended March 31, 2025, Spinny reported operating revenue of Rs 4,657 crore, up 25% from Rs 3,730 crore in FY24, driven by product sales of Rs 4,553 crore (up 26%) and minor services/advertising revenue; total income reached Rs 4,746 crore including other income. Net loss narrowed 28% to Rs 424 crore from Rs 590 crore, with operating losses down 27% to Rs 381 crore, aided by slower 17% expense growth to Rs 5,170 crore, reduced employee costs (Rs 338 crore from Rs 392 crore), lower interest, and depreciation. Gross margins improved amid a funding winter where used-car platforms consolidated by cutting verticals and headcount. The company maintained a procurement-led model with purchase of goods at Rs 4,309 crore, focusing on execution toward breakeven while remaining loss-making. |
| Mar 2025 | Secondary | - | $21M | $1.7B | Spinny is a Gurugram-based online used-car sales platform offering inspection, certification, financing, insurance, and doorstep delivery. In March 2025, it closed a $131 million funding round led by Accel Leaders Fund at about $1.7 billion valuation, including $110 million primary and $21 million secondary for ESOP buybacks. The round expanded to $170 million by June 2025 with WestBridge Capital participation at a flat $1.7-1.8 billion valuation. For fiscal year 2025 ending March 2025, Spinny reported operating revenue of Rs 4,657 crore, up 25% year-over-year, while net loss narrowed 28% to Rs 424 crore and operating losses fell 27% to Rs 381 crore. Total expenses rose 17% to Rs 5,170 crore, with cuts in employee costs, interest, and depreciation. Previously, Spinny raised $283 million in December 2021 led by ADQ, Tiger Global, and Avenir Growth at around $1.8 billion valuation, entering unicorn status. Spinny competes with Cars24, CarDekho, and CarTrade in India's used-car market, focusing on margins amid funding winter by exiting loss-making verticals and reducing headcount. |
| Nov 2021 | Secondary | - | $33M | $1.8B | Spinny is a Gurgaon-based online platform facilitating the purchase and sale of used cars in India. On November 24, 2021, it raised over $280 million in its Series E funding round co-led by Tiger Global and Abu Dhabi Growth Fund at an over $1.75 billion post-money valuation. This marked Spinny's entry into unicorn status. The Series E followed two earlier 2021 rounds, with valuations of $700 million in July and $350 million in April. Existing investors include Blume Ventures, Elevation Capital, and Accel. Spinny had expanded to 15 Indian cities from fewer than half a dozen the prior year and grew its business four times in 2021. India's used car market involves hundreds of thousands of monthly sales through traditionally risky offline channels, with Spinny addressing trust issues via physical inspections. The total addressable market for used vehicles in India reaches around $220 billion, including consumer purchases, auctions, remarketing, new vehicles, financing, and ads. |
| Nov 2021 | Series E | Abu Dhabi Growth Fund (lead); Avenir (lead); Tiger Global (lead); Think Investments; Arena Holdings | $250M | $1.8B | Spinny is a Gurgaon-based online platform facilitating the purchase and sale of used cars in India, addressing trust issues in the unorganized used car market through physical inspections, quality control, and a customer-first approach. The company operates in multiple cities, expanding from fewer than half a dozen to 15 by late 2021, with business growing four times in that calendar year. It competes in a total addressable market of around $220 billion in India for used vehicles, auctions, remarketing, new vehicles, financing, and ads. On November 24, 2021, Spinny closed its Series E funding round raising over $280 million, including $250 million primary capital and $33 million secondary sale, co-led by Abu Dhabi Growth Fund (ADQ), Tiger Global, and Avenir Growth, with participation from Think Investments, Arena Holdings, and others like Feroze Dewan. This marked Spinny's third round that year, following Series D in July at ~$700M valuation and earlier at $350M. The post-money valuation reached over $1.75 billion per TechCrunch sources, or $1.8 billion per VCCircle from regulatory filings, making it India's 39th unicorn. Total funds raised by Spinny exceeded $530 million at that point. The funding aimed to strengthen quality and experience control, expand operations, enhance technological capabilities, and penetrate new markets in the burgeoning Indian used car sector. Spinny had previously acquired rival Truebil in 2020 and raised in earlier rounds led by investors like Fundamentum, General Catalyst, Blume Ventures, Elevation Capital, and Accel. |
| Jul 2021 | Series D | Tiger Global (lead); General Catalyst; FJ Labs; Kaiser Permanente; Avenir; GC DF Ventures | $104M | $800M | Spinny is a Gurugram-based used-car retailing platform that facilitates the purchase and sale of used cars online, aiming to simplify the traditionally offline and high-risk process in India. The company operates by expanding to multiple cities and growing its business significantly, with four times growth in 2021 as reported around its later funding. Spinny had raised prior rounds including a Series C of $65M in April 2021 from General Catalyst, Arena Holdings, and Think Investments at around $350M valuation. In its Series D round in July 2021, Spinny raised $108M ($105M primary + $3M secondary), with Tiger Global investing $75M and Avenir Growth $20M, alongside participation from General Catalyst and others including FJ Labs, aligning with the queried investors and lead. This valued the company at $800M post-money, up from the prior valuation, as part of its rapid scaling before becoming a unicorn. The round contributed to Spinny's total funding surpassing $530M by its next round. Following the July 2021 Series D, Spinny progressed to a Series E round announced December 2021, raising $283M ($250M primary + $33M secondary) led by ADQ, Tiger Global, and Avenir Growth, valuing it at $1.8B and achieving unicorn status. Sources note some discrepancy with pre-announcement reports of $248M-$280M at $1.75B+ valuation. Investors like General Catalyst continued participation in subsequent rounds, amid a competitive used-car market with peers like Cars24 and CarDekho. |
| Apr 2021 | Series C | General Catalyst (lead); Think Investments; Elevation Capital; Fundamentum; Arena Holdings | $65M | $350M | Spinny is an Indian startup providing an online platform for selling used cars, focusing on injecting trust and safety into the buying process through a full-stack model. In April 2021, it raised $65 million in a Series C round led by General Catalyst, with participation from Arena Holdings, Think Investments, Fundamentum Partnership, and Elevation Capital, bringing total funding to over $120 million. The round valued Spinny at about $350 million, up from $150 million a year prior, according to a person familiar with the matter. The company, operational in five cities at the time, planned to expand to 15 cities by year-end and broaden its platform. The pandemic initially disrupted operations but Spinny recovered pre-COVID growth, benefiting from increased car ownership demand as people avoided rideshares, which also lowered customer acquisition costs. General Catalyst partner Adam Valkin highlighted Spinny's leadership and market momentum in reinventing the used car buying experience. This Series C followed earlier rounds including Series B in March 2020 ($44 million led by Fundamentum and KB Financial) and built toward later 2021 raises like Series D ($108 million in July led by Tiger Global) that achieved unicorn status at $1.8 billion. Spinny competed in the used car space against players like Cars24, with ongoing expansions and funding into 2025. |
| Sep 2019 | Series B | Fundamentum (lead); General Catalyst; Elevation Capital; Alteria Capital; KB Financial Group; Accel | $44M | $150M | - |
| May 2019 | Series A | Accel (lead); Elevation Capital (lead); Raghunandan G; Alteria Capital; Haresh Chawla; Blume Ventures; Simile Venture Partners | $13M | - | Spinny raised $13 million in a Series A round in March 2019 led by Accel Partners and Elevation Capital. Other participants included Blume Ventures and Simile Ventures. |
| Jun 2017 | Seed | Blume Ventures (lead); IAN Group; Oliphans Capital; Outbox ventures; Simile Venture Partners; Sandeep Tandon; Kunal Shah | $1M | - | - |
Who has invested in Spinny?
25 investors have backed Spinny across its funding rounds, including Accel, Elevation Capital, General Catalyst, Tiger Global, Think Investments and Fundamentum.
Lead investors include Accel, Abu Dhabi Growth Fund, Avenir, Tiger Global, General Catalyst and 3 other investors.
Spinny Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Gurgaon | 4 | Lead | May 2019 | |
 Palo Alto, CA | 4 | Lead | May 2019 | |
| San Francisco, CA | 3 | Lead | Sep 2019 | |
| San Francisco, CA | 3 | Participant | Apr 2021 | |
| Bangalore | 3 | Lead | Sep 2019 | |
| New York City, NY | 3 | Lead | Jul 2021 | |
| Mumbai | 2 | Participant | May 2019 | |
| Mumbai | 2 | Lead | Jun 2017 | |
 Luxembourg | 2 | Participant | Jun 2017 | |
| New York City, NY | 2 | Lead | Jul 2021 | |
| New York City, NY | 2 | Participant | Apr 2021 | |
 Abu Dhabi | 1 | Lead | Nov 2021 | |
 Quatre Bornes | 1 | Participant | Dec 2025 | |
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Start Free TrialAcquisitions by Spinny
Spinny has acquired 4 companies to date.
Last acquisition by Spinny was on December 13th 2025. Spinny acquired GoMechanic for $54M.
Latest Acquisitions by Spinny
| Description | GoMechanic is a Delhi-based online platform for car servicing, repairs, and maintenance across 30 Indian cities. Customers book denting, painting, insurance claims, and AC services through the app, with transparent pricing and OEM parts. Founded in 2016, the company operates 500+ garages partnering with brands like Maruti Suzuki and Hyundai for cashless repairs. | Scouto is a Bengaluru-based connected car technology provider offering vehicle health monitoring and service connections in India. Its IoT suite tracks engine performance, fuel efficiency, and maintenance needs, linking owners to insurers, workshops, and Fastag providers. Installed in over 100,000 vehicles, Scouto delivers real-time alerts via mobile apps for fleet operators and individual users. | Truebil is a Mumbai-based online marketplace for inspected used cars, offering a one-stop platform for buying, selling, and financing pre-owned vehicles. Founded in 2015, it addresses hassles in shortlisting, inspections, test drives, and paperwork for buyers. The service provides 360-degree inspections, 7-day money-back guarantees, and home delivery across India. Truebil partners with banks for loans and operates showrooms in major cities like Delhi, Bangalore, and Pune. | HopCar is an online car marketplace in India offering buy-and-sell services with free inspections and a 15-day sale guarantee for used vehicles. |
| HQ Country | | | | |
| HQ City | Gurgaon | Ahmedabad | Mumbai | Gurgaon |
| Deal Date | 13 Dec 2025 | 10 Feb 2022 | 6 Aug 2020 | 13 Jun 2016 |
| Valuation | $54M | undisclosed | undisclosed | undisclosed |
| EV/Revenue | ||||
| EV/EBITDA | ||||
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Spinny Competitors
Spinny competitors include listed companies like ACV Auctions and Lime, and private ones like Zocdoc, Outdoorsy, Carsome and Vestiaire Collective.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| New York City, NY | Private | $71M | - | $1.8B | 25.4x | |
| United States | Publicly listed | $760M | ($19M) | $1.8B | 2.1x | |
| Austin, TX | Private | $34M | - | $1.8B | 54.1x | |
 Petaling Jaya | Private | - | - | $1.7B | - | |
 Paris | Private | $230M | - | $1.7B | 7.4x | |
| United States | Publicly listed | $887M | $87M | $2B | - |
Spinny Public Comps
Spinny is still privately-owned, but its public comps include ACV Auctions, TBO.com, GO, Lime, eFinance, Ziff Davis, TX Group, Moltiply Group, CarTrade Tech and Visional.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $760M | ($19M) | 2.3x | 2.1x | (89.6x) | 24.8x | |||
| $262M | $41M | 6.7x | 5.2x | 43.2x | 34.3x | |||
| $266M | $49M | 5.4x | 5.3x | 29.4x | 24.7x | |||
| $887M | $87M | 2.2x | - | 22.2x | - | |||
| $130M | $67M | 11.8x | - | 22.8x | - | |||
| $1.5B | $335M | 0.9x | 1.0x | 3.8x | 3.3x | |||
| $1.1B | $310M | 2.1x | 2.1x | 7.2x | 8.1x | |||
| $787M | $148M | 2.4x | 2.3x | 13.0x | 8.6x | |||
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Common questions about Spinny
| When was Spinny founded? | Spinny was founded in 2015. |
| Where is Spinny headquartered? | Spinny is headquartered in Gurgaon, India. |
| Is Spinny publicly listed? | No, Spinny is a private, VC-backed company. |
| What is Spinny's valuation? | Spinny was last valued at $1.8B in its Series G in December 2025. |
| How much funding has Spinny raised? | Spinny has raised $715M across 8 funding rounds. |
| What was Spinny's last funding round? | Spinny's last funding round was a $90M Series G in December 2025. |
| Who are Spinny's investors? | Spinny's investors include Elevation Capital, Accel, General Catalyst, Think Investments, Fundamentum, Tiger Global, Alteria Capital, Blume Ventures, Simile Venture Partners, Avenir and 15 others. |
| What is Spinny's revenue? | Spinny's latest recorded revenue is $498M (December 2025). |
| What is Spinny's revenue multiple? | Spinny's latest valuation implies a 3.6x revenue multiple ($1.8B valuation on $498M of revenue). |
| Which companies are comparable to Spinny? | Companies comparable to Spinny include Zocdoc, ACV Auctions, Outdoorsy, Carsome, Vestiaire Collective and Lime. |
| How many companies has Spinny acquired? | Spinny has acquired 4 companies, including GoMechanic, Scouto, Truebil and HopCar. |
| What was the largest acquisition by Spinny? | The $54M acquisition of GoMechanic in December 2025 is the largest acquisition Spinny has made to date. |
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