Spinny
Spinny is growing fast, with a record 1,370 used-car deliveries in a single day on the first day of Navratri, up from 698 a year earlier (Autocar Professional, 12 Oct), and FY26 revenue set to exceed ₹6,000 crore (The Hindu BusinessLine, 9 Sept). FY25 losses were still ₹423.8 cr (Inc42, 27 Sept).
What it means Cars24 and other used-car rivals face a larger inventory-led competitor heading to market.
Latest moves
Our read of each move first, where we have one; what the report said is marked Reported.
- Reported: Spinny delivered 1,370 used cars across India on the first day of Navratri, its highest single-day total and up from 698 on the same day last year.Reported: Watch:
- Reported: Spinny Targets 2027 IPO With ₹2,500–3,000 Cr Raise as Revenue ScalesReported: Watch:
- Reported: Used-car marketplace Spinny has converted parent Valuedrive Technologies into a public limited company, a pre-IPO step.Reported: Watch:
Background
From 6 stories, the newest dated 27 Sept 2026. Summary written 3 Oct 2026. Newer developments are under Latest moves.
Spinny is a Gurugram-based used-car retailer that runs an inventory-led model.[1] source: Inc42[2] source: The Hindu BusinessLine
Show 3 more paragraphs and 6 sources
It sells 15,000 cars monthly and operates in 25 buyer cities and 100+ seller cities.[3] source: Entrackr Through its GoMechanic acquisition, it is expanding into dealership exchanges, financing, insurance and after-sales.[4] source: Inc42
In September 2026, Spinny confidentially pre-filed IPO papers with SEBI for a proposed ₹2,500-₹3,000 crore issue, targeting a 2027 listing with four lead managers appointed.[1] source: Inc42 Mint reported that it has raised $698 million across 13 funding rounds and was valued at ₹11,600 crore ($1.28 billion) in February 2026.[5] source: Mint Its FY26 operating revenue is approximately ₹6,000 Cr, up nearly 29% YoY.[1] source: Inc42 FY25 loss was ₹423.8 crore, against ₹590.4 crore in FY24.[5] source: Mint Spinny plans to expand buyer operations from 25 to around 35 cities.[6] source: Entrackr The Hindu BusinessLine reported that Spinny is set to overtake Cars24, whose FY26 operating revenue was ₹5,092 crore, down 18.3%.[2] source: The Hindu BusinessLine
Spinny added Akhil Gupta and Geeta Mathur as independent directors.[3] source: Entrackr Cars24, CarDekho and Droom are named alongside it as competitors in used cars.[5] source: Mint[2] source: The Hindu BusinessLine
Sources
Questions about Spinny
How fast is Spinny growing in India?
Spinny's FY26 operating revenue is approximately ₹6,000 Cr, up nearly 29% YoY, compared with FY25 operating revenue of ₹4,656.1 Cr, according to Inc42 in September 2026. [1] source: Inc42
What is Spinny's current strategy in India?
In September 2026 Spinny confidentially pre-filed for a ₹2,500-₹3,000 crore IPO targeting a 2027 listing.[1] source: Inc42 It also plans to grow buyer operations from 25 to around 35 cities.[6] source: Entrackr It is expanding into financing, insurance and after-sales through its GoMechanic acquisition.[4] source: Inc42
Who are Spinny's main competitors?
Spinny competes with Cars24, CarDekho and Droom in India's used-car market. The Hindu BusinessLine reported in September 2026 that Spinny is set to exceed ₹6,000 crore FY26 revenue, overtaking Cars24.[2] source: The Hindu BusinessLine
Stories that mention Spinny
6 stories
Spinny is named in these stories but is not their subject.
- Used-car sales seen rising 12-15% this festive quarter as rural demand lifts Cars24 and Spinny
- Bharat Taxi faces Gujarat coercion allegations, testing zero-commission model
- Cars24, Spinny and Droom seek new growth levers as used-car profits remain elusive
- CarTrade Q1 FY27 revenue rises 16% to Rs 201 crore; profit up 21%
- CarTrade Tech partners Spinny to extend used-car listings across CarWale and OLX India
- Fundamentum launches ₹2,200 crore third fund for Series B consumer-tech and retail startups