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Total amount raised
$648M
Latest funding date
2025-12-13
Location
Spinny has successfully navigated 13 funding rounds, with its most recent being a Series G round backed by Accel and WestBridge Capital. The platform specializes in buying and selling used cars, offering services like a 200-point inspection, warranty, and a 5-day money-back guarantee.
Spinny has raised funding across multiple rounds from leading investors including Accel, Tiger Global Management, General Catalyst, WestBridge Capital, Abu Dhabi's ADQ, Avenir Growth Capital, and Fidelity Investments.
Keep reading to explore Spinny's full fundraising journey.
What Is Spinny?
Spinny is a prominent player in the used car sales and services industry, headquartered in Gurgaon, Haryana, India. The company operates across multiple cities in India, including Delhi NCR, Bangalore, Hyderabad, and Mumbai.
Founded with the mission to provide a trustworthy and hassle-free car buying experience, Spinny offers a range of services such as a 200-point inspection, a 5-day money-back guarantee, and a one-year comprehensive service warranty. The company employs between 5001 and 10000 people, reflecting its significant growth and market presence.
How Much Funding Has Spinny Raised?
- Seed
- Amount Raised: USD 1,000,000
- Date: June 2017
- Lead Investors: Blume Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish and grow the early-stage used car marketplace platform.
- Series A
- Amount Raised: USD 13,200,000
- Date: April 2019
- Lead Investors: Accel, Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand platform capabilities and grow market reach.
- Series B
- Amount Raised: USD 43,700,000
- Date: March 2020
- Lead Investors: Fundamentum
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance technological capabilities.
- Series C
- Amount Raised: USD 65,000,000
- Date: April 2021
- Lead Investors: General Catalyst
- Valuation at Round: Approximately USD 350,000,000
- Motivation Behind the Round: To scale up inventory and improve customer service.
- Series D
- Amount Raised: USD 103,000,000
- Date: July 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and market penetration.
- Series E
- Amount Raised: USD 283,000,000 (including USD 250,000,000 primary capital and ~USD 33,000,000 secondary)
- Date: December 2021
- Lead Investors: ADQ (Abu Dhabi), Tiger Global Management, Avenir Growth Capital
- Valuation at Round: Approximately USD 1,800,000,000
- Motivation Behind the Round: To expand into new markets, achieve unicorn status, and enhance technological infrastructure.
- Series F
- Amount Raised: Approximately USD 170,000,000 (USD 131,000,000 initial tranche March 2025; USD 30,600,000 extended tranche June 2025)
- Date: March 2025 (initial close); June 2025 (extended close)
- Lead Investors: Accel Leaders Fund, WestBridge Capital
- Valuation at Round: Approximately USD 1,800,000,000
- Motivation Behind the Round: To scale operations, expand NBFC lending arm, and strengthen full-stack used car offerings.
- Series G
- Amount Raised: Approximately USD 170,000,000 (USD 90,000,000 primary capital; remainder secondary share sales by Blume Ventures and Fundamentum)
- Date: December 2025 (initial); February 2026 (final close)
- Lead Investors: Fidelity Investments, Accel Leaders Fund
- Valuation at Round: Approximately USD 1,400,000,000–1,800,000,000
- Motivation Behind the Round: To fund acquisition of GoMechanic and further scale operations.
Total Amount Raised: At least USD 648,900,000 based on disclosed primary funding rounds. Current Valuation: Approximately USD 1,400,000,000–1,800,000,000.
Key Investors
- Accel / Accel Leaders Fund
- Details: Accel is a global venture capital firm investing in early- and growth-stage technology companies. Accel Leaders Fund focuses on growth-stage investments and has been a consistent lead investor across Spinny's Series A, F, and G rounds.
- Investment Focus Areas: Technology, internet, software, consumer services.
- Notable Investments: Facebook, Dropbox, Slack, Flipkart.
- WestBridge Capital
- Details: WestBridge Capital is an investment firm focused on high-growth companies in India and South Asia. It co-led Spinny's Series F and participated in the Series G.
- Investment Focus Areas: India, South Asia, technology, consumer services, financial services.
- Notable Investments: Not publicly disclosed.
- Tiger Global Management
- Details: Tiger Global Management is a prominent investment firm known for its significant investments in technology and internet companies globally. They led Spinny's Series D and co-led the Series E.
- Investment Focus Areas: Technology, internet, software, consumer services, financial services.
- Notable Investments: Facebook, LinkedIn, Flipkart.
- ADQ (Abu Dhabi)
- Details: ADQ is an Abu Dhabi-based investment and holding company that co-led Spinny's landmark Series E round, which valued the company at $1.8 billion and made it a unicorn.
- Investment Focus Areas: High-growth sectors, technology, innovation, infrastructure, healthcare.
- Notable Investments: Not publicly disclosed.
- Fidelity Investments
- Details: Fidelity Investments is a US-based global financial services firm that co-led Spinny's Series G round, announced in February 2026, marking its entry into the company.
- Investment Focus Areas: Growth-stage companies, technology, consumer services, financial services.
- Notable Investments: Not publicly disclosed.
What's Next for Spinny?
Spinny is poised to capitalize on the burgeoning Indian used car market, leveraging its recent $248 million funding to scale operations and enhance technology. The substantial market size offers ample room for growth, positioning Spinny to capture a larger share and solidify its presence.
Future fundraising opportunities are likely as the company continues to expand, attracting more investors with its demonstrated growth and profitability. However, Spinny will need to navigate challenges such as competition from other market players and regulatory compliance to maintain its trajectory.
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