Results · Commerce & Consumer Brands

Spinny reports FY26 revenue of ₹6,000 crore

By Startup Enthusiast · 9 September 2026

What they do

Spinny operates a full-stack model buying, refurbishing, and selling used cars directly to consumers

The company posted ₹6,000 crore in FY26 revenue with over 28% growth despite a net loss

Spinny plans an IPO in 2027 after converting to a public limited company structure

Spinny reported FY26 revenue crossing ₹6,000 crore for the first time.
The company achieved over 28% year-on-year revenue growth during the fiscal year.
Estimated net loss for FY26 ranged between ₹350-400 crore according to available data.
Spinny is targeting an IPO in 2027 and has engaged with investment bankers.
The startup converted to a public limited company structure to prepare for the listing.
Competitor Cars24 saw its operating revenue drop by 18.3% to ₹5,092 crore.
Direct comparison is difficult due to Spinny's inventory model versus Cars24's commission shift.
Spinny continues to expand its operations while planning for a public market debut.

The results highlight the financial scale of India's used car retail sector.
Growth persists despite significant operational losses in the inventory-led business model.
Preparation for an IPO signals confidence in long-term profitability and market position.

Spinny uses a full-stack inventory-led model to buy, refurbish, and sell vehicles.
Customers benefit from a 200-point inspection process ensuring vehicle quality and safety.
The platform offers a warranty and a five-day money-back guarantee for buyers.
All prices are fixed, removing negotiation hassles for customers purchasing used cars.
Over 20,000 inspected cars are listed online for immediate purchase by customers.
Services include test drives at home or hub for convenient customer evaluation.
Doorstep delivery and online payment options streamline the final transaction process.
Financing is available starting at 12.99% interest rate for eligible customers.
76% of buyers are first-time users indicating strong market penetration among new segments.

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.