Truebil operates an integrated online and offline marketplace for buying and selling pre-owned cars, with operations in Mumbai, Delhi and Bengaluru. The company has developed proprietary, tech-enabled evaluation tools including a recommendation system, TruePrice for price prediction, procurement score, dynamic pricing and TrueScore. Founded in 2015 by IITians Suraj Kalwani, Ravi Chirania, Shubh Bansal, Rakesh Raman, Ritesh Pandey, Shanu Vivek and Himanshu Singhal, Truebil is focused on strengthening its technology stack and marketing. Management says the startup is doing a Rs 350 crore annual revenue run rate and aims to grow 3x this fiscal. The business is operated by Paix Technology and has pursued a mix of equity and debt in prior financings. Truebil is a Mumbai-based online portal that sells certified used cars and offers affordable car loans, paper transfer, warranty servicing, emergency roadside assistance, and insurance renewal for pre-owned cars. The company deploys an in-house engineering team that inspects each car across more than 150 checkpoints before listing. Truebil has tied up with Tata Capital and others to ensure easy financing of pre-owned cars. It will use the new capital for marketing, building up its technology stack, and expanding into five more cities including Jaipur and Pune; it currently operates in Mumbai, Bengaluru, and Delhi. For the financial year ending March 31, 2018, Truebil recorded revenue of Rs 50 crore and projects a top-line run rate of Rs 250 crore for the current fiscal. Overall the startup has raised Rs 160 crore across funding rounds to date. Founded in March 2015 and operated by Paix Technology Pvt Ltd, Truebil runs an online portal for buying and selling pre-owned cars with vetting, inspection reports and photographs of defects. The platform offers end-to-end services such as affordable car loans through tie-ups with Tata Capital and other lenders, paper transfer, warranty servicing, emergency roadside assistance and insurance renewal. The company currently operates in Mumbai, Delhi and Bengaluru. In the financial year 2016-17 Truebil’s operating revenues rose to Rs 5.63 crore from Rs 7.66 lakh the prior year, while gross expenses increased to Rs 16.32 crore and net losses widened to Rs 9.32 crore. Truebil is yet to disclose its financials for FY 2017-18. The article does not state specific future plans or guidance. Truebil operates a virtual marketplace for pre-owned cars, vetting vehicles, preparing inspection reports, and uploading photos of dents and scratches so buyers can shortlist choices. The Mumbai-based startup (run by Paix Technology Pvt Ltd) also rolled out an offline channel, Truebil Direct, and a B2C dealer digitization product called Truebil Privilege Partner. Founded in March 2015 by a team including Suraj Kalwani, Ravi Chirania, Shubh Bansal, Rakesh Raman, Shanu Vivek, Ritesh Pandey and Himanshu Singhal, the company has expanded operations to Bengaluru. Truebil said the newly raised capital will fund expansion and streamline operations, with part of the proceeds earmarked for skill development and technology upgrades. The company faces competition from CarDekho, CarTrade, Droom and horizontal P2P platforms such as OLX and Quikr. Recent and prior fundraising activity indicates ongoing investor interest in scaling its product and operations. Truebil is an online marketplace to buy and sell second-hand cars. The company operates in India. It was reported to have raised nearly $5 million (Rs 35 crore) in a Series-A round. Investors named in the round are Kalaari Capital, Inventus Capital and San Francisco-based Tekton Ventures. The article did not disclose operating metrics, past financings, or future plans.

Total raised

$25M

Funding rounds

7

Latest round

Equity

Latest activity

Sep 2019