Hopcar merges with Spinny for used cars

Delhi based startup Hopcar.in has announced its merger with Spinny, an online marketplace for used cars.

"When working towards making Hopcar.in the preferred choice for customers looking to buy or sell used cars, I met Niraj, the Co­founder and CEO of Spinny. The vision Niraj had for Spinny was very much in line with that of ours for Hopcar," said Arijit.

Niraj, an IIT­Delhi alumni and a Serial Entrepreneur, cofounded Spinny last year in April along with three other co­founders.

The unique proposition that Spinny brought to the market was an analytically developed 200 point inspection checklist that assesses a car's true condition and it's right price. This works in two ways.

One by helping the buyer make an informed decision about the purchase and second by helping sellers claim the right price for their cars.

"It didn't take us long to figure that just enabling the transaction wasn't going to be enough to establish ourselves in the market. Customers needed to be provided an avenue they could blindly trust," added Arijit.

While Spinny had been working on incorporating a scientifically developed pricing engine and an algorithm based rating engine in their processes to strengthen the tech side to their business, Hopcar.in was onto something similar.

"Seeing how our visions and approach naturally synced, it only seemed tactful to make concerted rather than disjointed efforts towards the same aim, and hence the merger happened," he added.

The merged entity will continue to operate under Spinny's brand name with the four co­founders of Hopcar becoming core team members at Spinny. With the entry of many new players in the market, the merger places Spinny in an advantageous position in the otherwise still nascent pre owned car market in India.

"Having set our foothold in Delhi, we are now streamlining our operations in Bangalore and plan to expand to other Tier I and Tier II cities by the end of this financial year"­ Niraj states. The merger is definitely a step ahead in Spinny's continuous endeavors to provide a reliable, data driven, and transparent service to its consumers.