Spinny is a leading platform in India’s used car market that offers one of the best deals and experiences to the customers during buying and selling of pre-owned vehicles. Using technology-driven methods, Spinny ensures that every transaction is simple and convenient for the customers. They provide detailed listings of certified used cars, with all the information, and high-quality images to make a hassle-free experience for the buyers. They also offer services like test drives and a 5-day money-back guarantee policy.
Spinny Success Story – Company Highlights
| Startup Name: Spinny |
| Company Name: ValueDrive Technologies Pvt. Ltd. |
| Headquarters: Gurgaon, Haryana, India |
| Industry: Automobile, Automotive |
| Founders: Niraj Singh, Ramanshu Mahaur, Mohit Gupta, Ganesh Pawar |
| Founded: 2015 |
| Valuation: $1.67 Billion (as of December 2024) |
| Website: www.spinny.com |
Spinny – Founders and Team
Spinny was founded by Niraj Singh, Ramanshu Mahaur, Mohit Gupta, and Ganesh Pawar in 2015.
Niraj Singh
An IIT Delhi alumnus, founder and Ceo of Spinny has also worked as a founding partner at Outbox Ventures in the past.
Ramanshu Mahaur
He is the co-founder, also an IIT alumnus and CTO of the company, and was a member of Adobe’s technical staff.
Mohit Gupta
He holds experience in a few best companies like Flipkart before joining Spinny.
Ganesh Pawar
He has been Flipkart as a Senior Manager of Business management, before founding Spinny. He has also started another venture called Udaan- an e-commerce supply chain.
Spinny – Startup Story
Nowadays, people are opting for used cars rather than buying new ones, which has boosted the used care market in India. However, still only people who are avoiding the option are fluctuating prices, lengthy paper works and complex procedures. This made Spinny’s founders think and create a solution. The idea of Spinny perfectly neutralized the challenges of the used car market, building trust among Indians. Starting operations in Delhi, Spinny has expanded to multiple cities since 2015, meeting customer needs.
Spinny – Investors and Funding
As of November 2024, Spinny has secured a total of $521 million in funding from 51 investors, a few of which are listed below.
| DATE | FUNDING- INVESTOR |
| Nov 1, 2024 | $666K (Angel) – Sachin Tendulkar |
| Sep 30, 2023 | $602K (Angel) – Sachin Tendulkar |
| Sep 29, 2022 | $518K (Angel) – Sachin Tendulkar |
| Nov 24, 2021 | $283M (Series E) – Tiger Global, Avenir Growth, Abu Dhabi Growth |
| Jul 8, 2021 | $108M (Series D) – Tiger Global, Avenir Growth |
| Apr 7, 2021 | $65M (Series C) – General Catalyst |
| Sep 27, 2019 | $43.7M (Series B) – Fundamentum |
| May 21, 2019 | $13.2M (Series A) – Accel, Elevation Capital |
| Jun 6, 2017 | $1M (Seed) – Blume Ventures |
Spinny – Business Model and Revenue Model
Initially Spinny had a customer-to-customer model, but later converted into a full-stack business model, managing the whole process from buying used cars to refurbishing and selling second-hand cars. They also ensure quality and great customer experience. According to various sources, the website sells nearly 8000 vehicles every month, or 90,000 cars a year.
Spinny, has over 2 lakh customers and over 57 operational car hubs across India. 70% of the customers prefer buying online, while 31% choose home delivery. Spinny has also claimed that 60% of the cars are purchased from first-time buyers and 32% are female customers. By maintaining control over the supply chain, Spinny, a used car company, provides reliable vehicles at competitive prices.
Spinny – Growth and Revenue
In FY24, operating revenue increased to ₹3,725 crore, with total expenses of ₹4,409 crore, and a reduction in loss of ₹590.37 crore.
| Top Car Brands | Maruti Suzuki, Hyundai, BMW, and Mercedes-Benz |
| Online Sales | 70% in 2024. |
| Spinny Parks Deliveries | 50% in 2024. |
| Financing Usage | 46% of buyers opted for Spinny Capital for financing in 2024. |
| Metro Growth | Bangalore, Delhi NCR, and Hyderabad recorded the highest sales in 2024. |
Spinny – Products and Features
Spinny ensures quality and reliability through a 200-point inspection process on a diverse range of certified used cars. Customers can check detailed listings online, schedule test drives, and even get a 5-day money-back guarantee on their site. Spinny also provides financing options, insurance, and great after-sales services without any lengthy procedures.
Spinny – Future Plans
With the upcoming surge in the used car market, Spinny aims to expand its operations in over 30 cities across India, upgrading its services. They have been in the process of making online purchases of second-hand cars and increasing the workforce to over 5,000 employees.
Spinny further aims to solidify its position in India’s used car market, by making its system more transparent, improving quality and customer satisfaction.
Some More Stories
Conclusion
Spinny is upgrading the used car market in India by providing a hassle-free, tech-driven platform for selling and buying pre-owned vehicles. With transparency, quality and customer satisfaction, Spinny is leading the second-hand car market. By providing a 200-point inspection process, detailed listings, a 5-day money-back guarantee and easy test drives, Spinny gives their customers a seamless experience. With the aim to expand its reach all over India, Spinny is gearing up with improved customer experience like financing options, after-sales support etc.
Spinny- FAQs
Q1. Does Spinny refund money?
Ans. Yes, you get a 100% refund with a 5-day money-back guarantee without any counter questions.
Q2. Who is the CEO of Spinny?
Ans. Niraj Singh is the Ceo and founder of Spinny, a used car market.
Q3. How can I book a car on Spinny?
To book a car, you have to make a refundable deposit of Rs 10,000, which will be applied to the purchase if you buy within the holding period.
Q4. How long will it take to get paid for selling my car?
Ans. The payment may be transferred to your account in a few hours.
Q5. Can Spinny help with financing?
Yes, Spinny can help with financing through their finance partners.
Yes, Spinny can help with financing through their finance partners.
