Used car marketplace Truebil raises Rs 100 crore in Series-B funding

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Published: January 23, 2019 12:38:31 AM

Pre-owned car marketplace Truebil on Tuesday announced Rs 100 crore in Series-B funding round in a mix of equity and debt. The round was led by Japanese investor Joe Hirao. With this latest round, the company has so far raised Rs 160 crore.

Used car marketplace Truebil raises Rs 100 crore in Series-B funding

Pre-owned car marketplace Truebil on Tuesday announced Rs 100 crore in Series-B funding round in a mix of equity and debt. The round was led by Japanese investor Joe Hirao. With this latest round, the company has so far raised Rs 160 crore.

Hirao is the founder of ZIGExN, a Tokyo-headquartered company that owns and operates a number of classified websites, ranging from automobile, jobs, real estate.

Existing investors Kalari, Inventus, Kae, Shunwei and Tekton have also participated in this round and Merisis Advisors was the investment banker.

Suraj Kalwani, chief executive of Truebil, said, “I am pleased to announce our newest funding at this stage of operational profitability which reflects the success of our efforts in bringing trust and assurance in the used car industry. We are currently selling over 600 cars per month and with our strong tech backbone, we are making aggressive strides towards becoming the numero uno used car retailer platform in India.” Shubh Bansal, co-founder, Truebil, said, “The funding will not only boost the brand but also help us take it to the next level of growth.”

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