Spinny, a used-car sales platform based in Gurugram, reported operating revenue of 4,657 crore rupee (US$561 million) for fiscal year 2025, up 25% from the previous year, according to filings with the Registrar of Companies.

Net loss for the year narrowed to 424 crore rupee (US$51 million), a 28% drop from FY24, after a reduction in operating losses and expenses.

Spinny cut employee costs to 338 crore rupee from 392 crore rupee (US$41 million), and also reduced interest and depreciation expenses.

Total expenses rose 17% to 5,170 crore rupee (US$623 million) for the year.

The company raised US$170 million in June 2025 in a funding round led by Accel Leaders Fund, with participation from WestBridge Capital, Fundamentum, and others, maintaining its valuation at around US$1.7-1.8 billion.

Spinny competes with Cars24, CarDekho, and CarTrade, as online used-car platforms shift focus to profitability and explore revenue from services like auto financing and insurance.

🔗 Source: The Economic Times

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