Truebil hits Rs 100 crore in annualised revenue run rate

MUMBAI: Truebil, an online marketplace for used cars, has crossed Rs 100 crore in annualised revenue run rate as of March this year. The revenue growth for the Kae Capital and Shunwei Capital-backed firm comes on the back of a series of customer-centric offerings that the Mumbai-based company launched since its last fund raise in February 2017, especially its fullstack model and B2B dealer models.

The company’s two-year-old full stack inventory model, Truebil Direct, has been at the forefront of this growth, contributing almost 50% of the company’s revenue share. “We clock 300 transactions per month and have reached a turnover of Rs 7 crore per month for Truebil Direct alone,” said Shubh Bansal, cofounder of Truebil. “This category gives us gross margins of about 7-9%,” he said.

Truebil clocks about 850 transactions per month across the platform with its marketplace model, and the newlylaunched B2B dealer auctions accounting for the remaining 550 transactions.