Spinny, the Gurugram-based used-car retail platform, is in advanced discussions to raise between $160 million and $165 million in a fresh funding round, signaling strong investor confidence in the company’s growth prospects even amid a cautious global investment climate. Entrackr
🚗 What the Funding Round Involves
The proposed financing round is being co-led by Accel Leaders Fund, one of Spinny’s largest existing backers, with at least one new investor expected to participate. If successfully closed, this new round will bring less-than-one-year fundraising for Spinny past $320 million in 2025.
According to industry sources, the fresh infusion — estimated at $160–165 million — will be split between primary capital and secondary share transactions. Around $90 million of the total is expected as primary capital, while the remainder will allow partial or complete exits for some early and mid-stage investors
📈 Strategic Uses of the New Capital
Sources familiar with the talks say a key purpose of the new funds will be to support operational expansion and bolster strategic initiatives, including payouts related to Spinny’s recent acquisition of GoMechanic. This move reflects Spinny’s broader ambition to deepen its footprint in the rapidly growing Indian used-car market
Regulatory filings show Spinny’s board has already approved the issuance of approximately 10.45 lakh Series G preference shares — a step that precedes the formal capital infusion of roughly ₹395 crore.
📊 Valuation and Business Performance
The funding round is expected to keep Spinny’s post-money valuation flat in the range of $1.5 billion to $1.8 billion, indicating stability in its valuation despite broader market volatility
Spinny has steadily grown revenue while narrowing losses. In the fiscal year ending March 2025, its operating revenue rose by about 25 % to ₹4,657 crore, and losses shrank by nearly 28 %, hinting at improving operational discipline.
📍 What This Means for Spinny and the Market
This substantial fundraising — if finalized — would highlight continued venture capital appetite for well-positioned Indian startups in the mobility space. For Spinny, the additional capital not only strengthens its balance sheet but also enhances flexibility for expansion, customer experience enhancement, and strategic growth in both B2C and B2B segments of pre-owned car retailing
With used-car demand rising in India’s fast-evolving auto market, Spinny’s latest funding talks reinforce its leadership position and ambitions to scale further.
