Archive · 12 Jun 2025
Spinny Raises $170M, Revenue Up, Losses Decline
Spinny, a company that helps people buy and sell used cars, is getting more money.
They've increased the amount of money they are trying to raise to $170 million.
New investors, like WestBridge Capital, are giving money to the company.
Spinny's sales have gone up, but so have its losses.
The value of the company hasn't changed, and the used car market is slowing down a bit compared to the past.
Spinny, a used car platform, has increased its funding round to $170 million.
WestBridge Capital has joined the funding round as a new investor.
The company's valuation remains flat at $1.5–1.7 billion.
Spinny's revenue from operations increased to Rs 3,725.02 crore in FY24, and losses declined.
The second-hand car industry is experiencing a slowdown.
- Who
- Spinny, a used car platform, is the subject.
- What
- Spinny increased its funding round to $170 million.
- When
- The funding round is ongoing and the financial results are from FY23 and FY24.
- Where
- Gurugram, India (based)
- Why
- The funding comes at a time when Spinny has made its NBFC arm, Spinny Capital, operational.
- Funding Amount
- $170 million
- New Investors
- WestBridge Capital, Accel Leaders Fund
- Valuation
- $1.5–1.7 billion
- Revenue (FY24)
- Rs 3,725.02 crore
- Losses Decline
- 28%
- Existing Backers
- Elevation, Tiger Global