Startup Profile

Spinny

Legal entity: Valerian Corp Private Limited

Trusted full-stack used car retailing for India

E-commerceUnicornMarketplace· Gurugram, Haryana· Est. 2015Website ↗
Spinny is an Indian full-stack used car retailer that buys, inspects, refurbishes, and sells pre-owned cars directly to customers. Founded in 2015 and headquartered in Gurugram, it runs an inventory-led model aimed at bringing transparency and quality assurance to India's fragmented used car market. It became a unicorn in late 2021 and remains active, raising fresh capital in 2025 partly to fund t
Funding raised
₹4400.00 Cr
Total disclosed
Latest valuation
₹14940.00 Cr
Most recent round
Latest revenue
₹3259.70 Cr
FY FY23
Employees
—
FY FY23

Founders

  • Niraj Singh

    Founder and CEO of Spinny. IIT Delhi alumnus from Daltonganj, Jharkhand, with a background in startup investing and entrepreneurship before founding Spinny in 2015.

  • Ramanshu Mahaur

    Co-founder of Spinny, leading technology. IIT Delhi computer science graduate who previously worked at Adobe.

  • Mohit Gupta

    Co-founder of Spinny, focused on operations. Previously worked at Flipkart.

  • Ganesh Pawar

    Co-founder of Spinny. Previously in business development at Flipkart.

Funding rounds

  1. Series G2025-12-12₹1328.00 CrLed by Accel
  2. Series F2025-04-01₹1411.00 CrLed by Accel
  3. Series E2021-12-06₹2348.90 CrLed by Tiger Global
  4. Series D2021-07-08₹896.40 CrLed by Tiger Global
  5. Series C2021-04-01₹539.50 CrLed by General Catalyst
  6. Series B2019-09-28₹362.71 CrLed by Fundamentum

Financials

MCA / self-reported
Fiscal yearRevenueProfit / (Loss)Employees
FY23₹3259.70 Cr(₹819.80 Cr)—
FY24₹3725.00 Cr(₹590.30 Cr)—
FY25₹4656.10 Cr(₹423.80 Cr)—

The full story

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Timeline

  1. 2025-12Series G to acquire GoMechanic — Lined up around $160 million led by Accel with WestBridge at a roughly $1.8 billion valuation, raised to finance the acquisition of car-servicing startup GoMechanic.
  2. 2025FY25 revenue Rs 4,656 crore, loss cut 28% — Operating revenue rose 25% to Rs 4,656 crore in FY25 while net loss narrowed 28% to Rs 423.8 crore.
  3. 2024FY24 revenue crosses Rs 3,700 crore, losses narrow — Operating revenue reached Rs 3,725 crore in FY24 with net loss narrowing to Rs 590.3 crore from Rs 819.8 crore in FY23.
  4. 2021-12-06Becomes a unicorn — Raised $283 million in Series E led by Tiger Global and Avenir Growth Capital, with ADQ participating, reaching a $1.8 billion valuation and entering the unicorn club.
  5. 2021-04Series C led by General Catalyst — Raised $65 million in a round led by General Catalyst, with Arena Holdings, Think Investments, Elevation Capital, and Fundamentum participating.
  6. 2019-09Series B led by Fundamentum — Raised $43.7 million in Series B led by Nandan Nilekani-backed Fundamentum.
  7. 2015Spinny founded in Delhi NCR — Niraj Singh and co-founders launch Spinny to bring transparency to India's used car market, starting as a marketplace before pivoting to a full-stack inventory-led model.

Data sources

  • seed-list + Crunchbase ODM↗ · last fetched 2026-05-28
  • Editorial (press release)↗ · last fetched 2026-05-28
  • Editorial (press release)↗ · last fetched 2026-05-28
  • DPIIT (Startup India)↗ · last fetched 2026-05-28
  • Wikidata↗ · last fetched 2026-05-28
  • favicon↗ · last fetched 2026-05-31
  • StartupTalky↗ · last fetched 2026-06-01
  • Spinny (company blog)↗ · last fetched 2026-06-01
  • Inc42 (FY24 financials)↗ · last fetched 2026-06-01
  • Inc42 (FY25 financials)↗ · last fetched 2026-06-01
  • Inc42 (Series F / NBFC)↗ · last fetched 2026-06-01
  • Entrackr (Series C)↗ · last fetched 2026-06-01
  • Entrackr (Series D)↗ · last fetched 2026-06-01
  • Business Today (Series E / unicorn)↗ · last fetched 2026-06-01
  • TechCrunch (Series G / GoMechanic)↗ · last fetched 2026-06-01
  • Tracxn↗ · last fetched 2026-06-01
Updated 2026-06-01