BENGALURU: Truebil, an online market for buying and selling second-hand cars, has raised Rs 35 crore Series-A funding from venture capital investors Kalaari Capital, Inventus Capital and San Francisco-based Tekton Ventures. The rounds also participation from existing investor, Kae Capital.
The Mumbai-based startup, whose founders include former Housing employees, is focused on peer-to-peer sales of cars unlike large classified players like CarDekho and CarTrade.
“The difference between classifieds players and us is that we handhold a customer throughout the experience, helping close the transaction,” said co-founder and CEO Suraj Kalwani.
“One thing that we are convinced about is horizontal classifieds will start getting unbundled and specialised. Used-car sales is a large market with high ticket sizes, but extremely inefficient,” said Rutvik Doshi, director at Inventus Capital.