29 January, 2016, Mumbai: Gaining the trust of the investors, Truebil has managed to acquire US $5 mn funding in its series A round of funding. Kalaari Capital, Inventus Capital and San Francisco-based Tekton Ventures were among the top investors who showed their interest in the company by investing in it.
The raised amount will be utilised in expanding its reach to four other cities of the country including Delhi and Bangalore. Ventured in March 2015, it is a brain child of Suraj Kalwani, Himanshu Singhal, Rakesh Raman, Ravi Chirania, Ritesh Pandey, Shanu Vivek and Shubh Bansal. The company deals in providing its customers an online podium of buying and selling second hand cars.
Truebil has some additional features that equip its customers with huge range of facilities such as inspection & valuation, quick sell guarantee, free vehicle buying consulting, smooth paper transfer, loan assistance, insurance support etc. Apart from above facilities, the company also provide a very unique service to its customers. The service is called ‘QuickSell’, in this additional provision, if the car is not sold within 15 days at the recommended amount the startup buys it.