Automobile resale start-up, Spinny enters the premium car market

Spinny, a full-stack used automobile resale start-up, has launched the “Spinny Max” for the premium sector. Spinny Max will offer customers a range of pre-owned premium cars such as Mercedes, BMW and Audi, among others.

The firm plans to operate across India, with delivery services in 250 cities and a fleet of over 500 cars, with the goal of carving out a position in the luxury car industry. According to the company, the detail-oriented new “Spinny Max” section will be added to the already existing Spinny app. The entire process is meant to be an online-first experience, with all relevant information and a 360-degree view of each luxury used automobile offered on spinny.com and the Spinny App.

“Spinny was founded on the principle that everyone deserves a quality car. Spinny Max aims to create a niche in the market for luxury automobiles, making accessible luxury a reality. Each car is thoroughly vetted, and test drives and ownership are designed with the highest levels of quality and support,” said Niraj Singh, Founder-CEO, Spinny.

Every month, Indians sell hundreds of thousands of secondhand automobiles. However, purchasing them through offline and traditional channels might be a time-consuming and risky procedure. According to the company, trust issue is one of the major problems individuals have when they buy a used automobile.

Spinny is tackling this by eliminating the middlemen from the process, making used car purchases more reasonable and dependable for customers. The firm acquires automobiles from their owners, inspects them thoroughly and transparently, and then makes them accessible for purchase by customers. According to the startup’s website, if a customer is dissatisfied with the automobile they purchased from Spinny, they will receive a complete refund.

According to reports, Spinny has received more than $280 million in its Series E funding round in November last year. The start-up is valued at approximately $1.75 billion after the funding round, which was led by Tiger Global and Abu Dhabi Growth Fund.

During the pandemic, a lot of customers who used OLA and UBER-like services wanted to buy personal vehicles for safer travel. This has led to a boost in the resale market and has facilitated the growth of platforms like Spinny.

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