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Spinny is raising around $160 million in a Series G round to fund its acquisition of car services startup GoMechanic and double down on its services stack.
Context: Spinny is one of India’s largest online used-car platforms. What it lacks is a strong in-house after-sales service layer. GoMechanic is a car service and repair platform that connects vehicle owners with workshops for affordable maintenance and servicing.
The deets: out of the $160 million, nearly $90 million coming in as primary capital. Existing investors Accel and WestBridge Capital are leading the round, with Accel already committing $44 million, while a new investor is also joining in.
The fundraise is being done specifically to finance Spinny’s acquisition of GoMechanic, expected to be nearly $50 million cash-and-stock deal, without tapping into Spinny’s existing cash reserves.
Why it matters: acquiring GoMechanic lets Spinny control a much bigger slice of the used-car value chain, from buying and refurbishing cars to servicing them post-sale. That improves margins, customer experience, and long-term stickiness.
Zoom out: India’s used-car market is projected to grow at 10% annually to 9.5 million units by 2030.
The market is set for a sharp expansion, growing from $36 billion in 2024 to $101 billion by 2033. That implies a strong 12.3% of annual growth, driven by rising demand across hatchbacks, sedans, and SUVs.
