India: Online marketplace for used cars Truebil raises $5m from Kalaari, Inventus, others

Visual from Truebil website

Truebil, an online marketplace to buy and sell second-hand cars, has raised nearly $5 million (Rs 35 crore) in a Series-A round of funding from venture capital firms Kalaari Capital, Inventus Capital and San Francisco-based Tekton Ventures

The funding round also saw participation from its existing investor Kae Capital.

The funds will be used by the Mumbai-based startup to expand its operations in four cities including Bengaluru and Delhi in the next 12 months with a target of 1,500 transactions a month. Truebil, which launched operations in March 2015, currently claims to be doing 200 transactions daily in Mumbai alone.

“Our funding would be used to develop products and technologies to enhance and add immense value to consumer experience. We have been in the forefront of product and services innovation with offerings like True Score (a unified rating algorithm for every car), Used Cars Comparison engine (Comparing apples to oranges as every car is different) and Car Recommendation Algorithm,” Suraj Kalwani, co-founder and CEO of Truebil told DEALSTREETASIA.

Founded by Kalwani, Ravi Chirania, Shubh Bansal, Rakesh Raman, Ritesh Pandey, Shanu Vivek and Himanshu Singhal, Truebil is focused on peer-to-peer sales of cars. The platform also offers features like free inspection, valuation, quick sell guarantee, vehicle buying consulting, smooth paper transfer, loan assistance and insurance among others.

Soon after launching its operations, the startup raised $500K in funding from Kae Capital and angel investor Anupam Mittal.

Also Read: India: CarDekho parent acqui-hires virtual reality startup Drishya360s 

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India: Auto classifieds platform CarTrade raises $142m led by Temasek & March Capital

 

 

 

 

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.