Spinny's losses swell to Rs 820 crore in FY23, revenue surges 30 times
Tiger Global-backed Spinny's gross revenue surged 30 times to Rs 3,262 crore in FY23 from Rs 109 crore in FY22, according to its financial statements with the Registrar of Companies (RoC). The revenue surge is due to the cash and carry model.
In 2021, Spinny announced the closure of a $283 million funding from new and existing investors, taking its valuation to $1.8 billion and becoming another unicorn. Image Courtesy: Freepik.