Omni-channel platform for buying and selling used cars Truebil has raised ₹100 crore in Series B round through a mix of equity and debt.
With this round, the total funds raised by Truebil stands at ₹160 crore. The latest round was led by leading Japanese investor Joe Hirao, founder of Tokyo-based classified website ZIGExN. Existing investors Kalari, Inventus, Kae, Shunwei, and Tekton have also participated in this round. Merisis Advisors were the investment bankers for this round of funding.
The company will be using the funds to expand the business in other geographies and strengthen the technology stack.
Suraj Kalwani, CEO of Truebil, said that the company has raised the fresh funds at a time when it is already operationally profitable.
“This 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,” he added.