Spinny Raises USD 131 Mn from Accel Leaders Fund to Expand Used-Car Marketplace The funds will be used to expand Spinny's market presence, enhance its full-stack offerings, and strengthen technology-driven solutions for used-car buyers and sellers.

Gurugram-based used-car marketplace Spinny has secured USD 131 million in a funding round led by Accel Leaders Fund, marking a significant boost for the fast-growing platform.

The round includes USD 110 million in primary funding and USD 21 million in secondary transactions, facilitating ESOP buybacks and early investor exits. Accel Leaders contributed USD 75 million, while Elevation Capital, Tiger Global, Fundamentum, and other existing investors participated in the round.

The funds will be used to expand Spinny's market presence, enhance its full-stack offerings, and strengthen technology-driven solutions for used-car buyers and sellers. A source familiar with the deal stated, "With the rising demand for pre-owned vehicles, Spinny is poised to scale operations and improve customer experience through better inspection, refurbishment, and financing services."

Founded in 2015 by Niraj Singh, Ramanshu Mahaur, Ganesh Pawar, and Mohit Gupta, Spinny follows a full-stack model, managing the entire lifecycle of used-car transactions. The platform offers vehicle inspection, refurbishment, documentation, financing, and end-to-end sales services.

It sells approximately 7,000 cars per month via its platform and 5,000 cars through its B2B auction network, with an average transaction value of INR 6 lakh per car.

Before this round, Spinny had raised USD 108 million in its Series D funding in 2021, led by Tiger Global and Avenir Growth.

With this latest funding, the company aims to accelerate growth, deepen its presence in tier-II and tier-III cities, and explore strategic acquisitions. As India's used-car market is projected to double by 2030, Spinny is positioning itself as a market leader in the pre-owned vehicle segment.