Spinny is a Gurgaon-based preowned car purchasing platform launched in 2015 by an IIT alumnus, Niraj Singh, an entrepreneur and investor. The company commenced on a basic plan of providing a used car to the buyers.
Starting with such a plan was much of a desire to solve the car ownership issues. Most people buy a second-hand car before buying a new one, which can be because of a lack of capital, or they want to try a hand on a used one before kick-starting their new car.
Achievements
As witnessed by the company, people are getting into buying cars through their online contactless mode, and there is a huge rise in the number of buyers. As a platform that provides used cars, they have sold more than 9,100 in the last year, and most of their customers are under forty.
They buy with the same purpose of either lack of capital or for learning. Out of all the buyers, 20% were women, and they bought the car under their ownership.
While there are 70% of the buyers are the people who rely on the public mode of transportation and shared vehicles.
Strategies
Niraj Singh started his business with his funds of about $500,000, and today several venture capital firms are funding him, and he has raised an amount of about ₹418 crores.
With competition from several classified companies like Cardekho.com, Olx, Quikr, Spinny has to run on new business strategies to keep the business going like home drives of the purchased car, contactless mode of purchasing, and fast delivery over affordable prices between ₹4-6 lacs.
Running Transparent Business
This trend of buying a purchased car is set well in big cities with working people in MNCs, including Hyderabad and Mumbai. Besides the fair price and the quality of the car, the feature that helps people choose Spinny over any other classified company is the contactless mode of purchasing.
There has been a massive rise in women buyers over the last year and this year. According to a survey, it was reported that people are not satisfied with the purchase of used mobile. This motivated the company to make transparent, trustworthy, and customer-focused.
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Initiatives
Spinny is focusing on launching initiatives to address the company’s working areas, including quality, affordable prices, and added pandemic issues. Initiatives for the customers such as Spinny 360, one year guarantee, and buyback. To meet customer satisfaction is the goal by providing them better cars than they can get on rentals.
Spinny is setting a benchmark even in a competing environment with the work. Former Indian Cricketer Sachin Tendulkar has also invested in the platform and will be the company’s ambassador.
Conclusion
So, all in all, one can get finance and car delivered at home by using the web portal Spinny, which makes one thing left for the customers: to search according to their choices from more than 1,200 preowned, fully-owned sanitized cars. A virtual tour to guide into buying the car of the dreams and that too, comfortably at home.
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