India’s used car startup, Truebil, raises $1.35 million

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Truebil, an online used car startup company based out of Mumbai, India, recently fund raised $1.35 million in debt funding from Trifecta Capital, a venture debt fund.

In a span of less than a month, Truebil has raised over $4.1 million in a mix of equity and debt capital, in three tranches.

The latest funding comes less than three weeks after Truebil raised ₹15 crore in funding led by Inventus Capital Partners, along with participation from Shunwei CapitalKae Capital, and Tekton Ventures.

Also last month, online cars marketplace Truebil raised ₹7.4 crore in a round led by existing investor Kalaari Capital.

It has not yet been ascertained if the latest fundraising is part of a larger funding round. The deal has not yet been confirmed either by Truebil or Trifecta Capital.

Truebil was co-founded by seven members, including, Suraj Kalwani, Himanshu Singhal, Rakesh Raman Ravi Chirania, Ritesh Pandey, Shanu Vivek, and Shubh Bansal in 2015. The startup provides end-to-end solutions for buying used cars through its platform.

It offers various other services while buying a used car, like, affordable car loans, paper transfer, warranty servicing, emergency roadside assistance, and insurance renewal, to provide a seamless car purchasing experience.

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