Funding

Spinny raises $13.2 million led by Accel and SAIF

What they do

Gurugram used-car seller Spinny raised $13.2 million (about Rs 92 crore) in a Series A mixing equity and venture debt

Blume Ventures, Simile Ventures and debt fund Alteria Capital joined, along with angels Raghunandan G and Haresh Chawla

Accel’s Anand Daniel and SAIF’s Mukul Arora took board seats; the money was for more hubs in Delhi NCR and entry into Bengaluru

Spinny buys, checks and resells used cars online and through its own car hubs.
Almost all revenue (about 98%) comes from selling cars; the rest from commissions, services and ads.
It also runs car loans, the GoMechanic servicing business and the Autocar India titles.

Product: A platform that helps consumers buy, sell, and exchange used cars.
Customers: Individual car buyers and sellers, plus dealers and OEM partners.
How it makes money: It earns from car sale margins, exchange activity, and related services such as financing and warranties.
What sets it apart: Certified inspection and a managed, end-to-end transaction experience.
Operations: Operates an inventory-backed and platform-assisted used-car retail network.