What is Truebil? Truebil Review

Platform Business

As an online used car service platform, Truebil not only provides end-to-end used car sales services, but also provides users with preferential auto loans, emergency roadside assistance, vehicle warranty services, and vehicle insurance services. At present, the company's business mainly covers three cities: Mumbai, Delhi and Bangalore. At the same time, Truebil has also launched other value-added services, such as cooperating with financial institutions to support installment purchases, zero depreciation of accessories, and used car insurance services.

It is worth mentioning that Truebil has also launched other value-added services, such as cooperating with financial institutions to support installment purchases, zero depreciation on accessories, and used car insurance.

Business Model

Truebil's business model is similar to that of Renrenche, a used car trading service platform. Both adopt a C2C virtual consignment model, match the transferor and the buyer to reach a transaction, and deduct the transaction commission (service fee) from the buyer. The advantage of this model is that it reduces the profit margin of traditional used car transactions. The disadvantage is that the operation workload is large and the transaction efficiency is low.

Financing

In June 2015, it completed a $500,000 seed round of financing from Kae Capital and Anupam Mittal;

In January 2016, it completed a US$5.1 million Series A financing led by Kalaari Capital, with participation from Inventus Capital, Kae Capital, and Tekton Ventures.

In February 2017, it completed a US$3 million Series A2 financing round, with Shunwei Capital as the investor;

In October 2018, it completed a US$1 million Series A3 round of financing and a US$2 million Series A4 round of financing, with investors including Kalaari Capital, Inventus Capital, Kae Capital, Tekton Ventures and Shunwei Capital;

In November 2018, the company completed debt financing of approximately US$1.4 million, with Trifecta Capital as the investor.

In January 2019, Truebil completed a $14 million Series B financing. The lead investor was Joe Hirao, founder of Japan's ZIGExN, and participating investors included Kalaari Capital, Inventus Capital, Kae Capital, Tekton Ventures from San Francisco, and Shunwei Capital under Lei Jun. In addition, Merisis Advisors was the exclusive financial advisor for this round of financing.

In September 2019, Indian used car service platform Truebil announced that it had received US$1 million in financing from Japanese venture capital firm SpiritVentures.

Development History

In May 2018, TrueBil, a used car trading platform known as the Indian version of "Guazi Used Car", announced on Tuesday (March 6) that it will use the Unocoin PoS application launched by Unocoin (India's leading Bitcoin company) to accept Bitcoin payments.

In August 2020, India's used car retail platform Spinny announced the acquisition of another used car online trading platform Truebil. The transaction amount was not disclosed.

References

• 1. Indian used car service platform Truebil completes 14 million financing: ebrun [cited date 2019-01-22T16:00:00.000Z]