Truebil raises 100 Crore in Series B Funding Led by Joe Hirao, Japanese Investor

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Truebil raises funds

India’s leading omni-channel platform for buying & selling cars, Truebil has declared it a series B funding round and has raised 100 crore in a mix of equity & debt, led by Joe Hirao, Japanese Investor & 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. Merisis Advisors were the investment bankers for this round of funding. With this, the company has so far raised a total of 180 crore as the next step towards company’s vision of becoming India’s largest car market aggregator.

On the funding, Suraj Kalwani, CEO of Truebil, says, “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. We are extremely happy about the confidence investors to have shown in us and the continued trust and support of our customers. We are all set to bring in more value-added services aimed at providing the best in class customer experience.

Also, Shubh Bansal, Co-Founder, Truebil, comments, “The funding will not only boost the brand’s status as a leading used car platform but also help us take it to the next level of growth. We will be using these funds to expand the business in other geographies and strengthen our technology stack which is the backbone of the consumer-focused retail business.”

Truebil provides innovative services for used car buyers solving the problem of trust and assurance for the customers. Truebil is the largest online used car retailer offering unique services like comprehensive warranty and assured buy-back to end consumers through its full stack offering, Truebil Direct.

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