The Business Model: We are one of the fastest growing organizations catering to the buying needs of the customers by tapping and unleashing the used car market and guaranteeing a customer experience that’s seamless and worthwhile. Working on a transactional and fulfillment marketplace model, Spinny is the go-to platform for buying and selling used cars. Offering convenient transactions to the customers, Spinny has become the Indian pre-owned car segment that holds a lot of potential and has been getting tremendous attention lately. We are currently operational in Delhi/NCR with four hub locations and recently set up our operations in Bangalore. The future plan is to expand operations in major cities of India and deliver the best in class service to all our buyers.
One of the key differentiating factors of Spinny is that its price engine, which works on a proprietary neural network-based algorithm, determines the correct price of the car. Nobody is left with a feeling of having landed a raw deal as the entire process is automated. In addition, Spinny also takes care of all the paperwork, from registration to title transfers as well as assisting buyers in financing their purchase.
Background and key team members: Spinny was founded by Niraj Singh, Mohit Gupta, and Ramanshu Mahaur in 2015 and since then we have taken strong steps in building a business model that is niche and offers the best sustainability to all. We are backed and funded by Accel Partners and Saif Partners & business operations is highly profitable month on month. We recently closed our series A funding by Accel and Saif. We have onboarded some of key core members from Flipkart, Airtel, Zostel, Jabong, and Accenture & we are hiring rapidly to expand our business.
Future Plan: Spinny aspires to acquire four to five percent of the used car market share by 2020 and envisions cementing its market leadership position slowly but steadily. With Spinny, true convenience, complete transparency and supreme satisfaction for all is now a reality in the pre-owned car market.
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