Gurugram-based used-car retail platform Spinny is set to raise $160–165 million in a new funding round, with Accel Leaders Fund increasing its investment, according to filings and people aware of the talks. The round will add to the company’s earlier capital infusion this year, taking its total fundraise in 2025 to more than $320 million.

Spinny’s board has cleared the issue of 10.45 lakh Series G preference shares, indicating that the transaction structure is in place. Around $90 million from the proposed round is expected to come in as primary capital, which will support operations and expansion efforts, including the integration of GoMechanic, acquired this year. The rest of the funds will enable investor exits, offering liquidity to early and mid-stage shareholders.

Key Highlights

• Spinny to raise 165M USD as Accel boosts backing in major 2025 funding round
• Spinny’s Series G round lifts total 2025 fundraising past 320M USD

The company is expected to maintain a flat valuation estimated between $1.5 billion and $1.8 billion, similar to its last financing. A new investor is also likely to join, though details have not been confirmed.

Founded in 2015, Spinny operates a full-stack used-car marketplace, overseeing inspection, refurbishment, documentation and vehicle financing. The company sells over 12,000 cars per month across B2C and B2B channels. The average ticket size of transactions is about ₹6 lakh, reflecting a focus on mid-market demand.

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According to disclosures, Spinny has raised about $676 million prior to this round, with Accel and Tiger Global as major shareholders. In FY25, the company reported ₹4,657 crore operating revenue, a 25% increase, while losses fell by 28%, indicating improving efficiency.