Funding
Spinny raises $160–170 million Series G led by Fidelity
By Startup Enthusiast ·
- Date
- Company
- Spinny
- What it does
- Fidelity, Accel Leaders Fund
- Kind
- Funding
- Amount
- $160–170 million
- Stage
- Series G
- Based in
- Gurugram
- Founded
- 2015
What they do
Fidelity and Accel Leaders Fund led a Series G of about $160–170 million, with about $90 million as fresh capital
What happened
Early backers Blume Ventures and Fundamentum sold shares in the rest, bought by Fidelity and WestBridge
Why it matters
The money helps pay for the GoMechanic purchase; the competition regulator cleared Fidelity’s stake in February 2026
The details
- Spinny raised about $160–170 million in Series G.
- Fidelity and Accel Leaders Fund led.
- About $90 million was primary.
- Blume and Fundamentum sold shares.
- Accel wired about $44 million first.
- CCI approved Fidelity’s stake in Feb 2026.
The bigger picture
- It funded the GoMechanic buy.
- A crossover fund like Fidelity often comes in before an IPO.
- Blended valuation was about $1.4–1.8 billion.
About the business
- 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.
Investors
Founders
- Niraj Singh, Founder and CEO
- Mohit Gupta, Co-founder
- Ramanshu Mahaur, Co-founder and CTO
About Spinny
- 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.
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