Indian used car marketplace Spinny has raised $30 million in primary capital as part of an extension to its ongoing Series F funding round. The investment was led by WestBridge Capital, marking a significant boost for the Accel-backed platform as it continues to expand its footprint in India’s pre-owned car market.
Founded in 2015, Spinny has emerged as a trusted name in the used car segment by offering a full-stack retailing platform. The company focuses on transparency, quality assurance, and a seamless customer experience, distinguishing itself from traditional dealerships and other online competitors.
This latest funding round is expected to fuel Spinny’s growth initiatives, including expanding its presence across more cities in India and enhancing its technology infrastructure. The company aims to leverage the capital to strengthen its position in the rapidly growing used car market, which has seen a surge in demand post-pandemic.
Spinny has previously raised significant investments, with its valuation reaching $1.9 billion in earlier rounds. The platform’s ability to attract consistent backing from prominent investors like Accel and now WestBridge Capital underscores investor confidence in its business model and market potential.
The used car industry in India is undergoing a digital transformation, and Spinny is at the forefront of this shift. With this new injection of $30 million, the company is well-positioned to scale operations and innovate further, catering to the evolving needs of Indian car buyers and sellers.
As Spinny continues to redefine the used car buying experience, industry watchers are keen to see how this funding will translate into new features, partnerships, or market expansions in the coming months.
Alfred Lee
