Truebil hopes Rs 3.2 crore fund will take it to places

BENGALURU: Truebil, a virtual marketplace with a curated collection of used and pre-owned cars, has raised a seed round of Rs 3.18 crore ($500,000) from Kae Capital and People Group founder and angel investor Anupam Mittal.

Started by former employees of Housing.com, the Mumbaibased company set shop in March this year. It looks to disrupt the present classifieds marketplaces such as OLX and Quikr, which collate content from the sellers. In addition to sellers, Truebil will also curate content from the carmakers themselves.

“Second-hand cars end up being one of the larger verticals within classifieds. You will be exactly informed of the condition and other details of the car,” said Navin Honagudi, the investment director at Kae Capital, which led the funding round. “This is the kind of peer-to-peer model we are looking at.”

The company offers end-to-end services, starting from helping customers discover and shortlist the car of their choice, inspection and valuation services, up till the paper transfer, loan and insurance.