Used car marketplace Truebil secures $1 mn funding to strengthen its technological infrastructure

Pre-owned car marketplace Truebil has secured $1 million from from Japanese venture capital firm Spiral Ventures. The fresh capital will be used by the company funds to strengthen its technological infrastructure.

This funding comes just months after the Mumbai-based company raised $14 million in its Series B funding round led by Japanese investor Joe Hirao. The round has also seen participation from existing investors Kalaari Capital, Inventus Capital, Kae Capital, Chinese venture firm Shunwei Capital and the San Francisco-based Tekton Ventures.

Founded in 2015, Truebil is operated by Paix Technology Pvt Ltd. The Mumbai-based company is running an online portal to sell pre-owned cars and offers services like affordable car loans, paper transfer, warranty servicing, emergency roadside assistance and insurance renewal.

Currently, Truebil is operating in Mumbai, Delhi and Bengaluru.

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