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India-based used car marketplace Truebil refills its tank with $3M raise

Trending story found on techcrunch.com
India-based used car marketplace Truebil refills its tank with $3M raise
techcrunch.com - Truebil, a marketplace for selling used cars in India, has closed a $3 million post-Series A funding round from China’s Shunwei Capital. Its $5.5 million Series A was raised in January 2016. Unlike more traditional rivals like CarTrade, which just raised $55 million led by Singapore’s Temasek, its sister site CarWhale and Cardekho, Truebil dis-intermediates the professional auto trader because it enables direct consumer-to-consumer transactions. Truebil was founded in 2015 and it is currently present in Mumbai and Bangalore. The company said it is selling 200 cars per month, with 1,000 new listings going up each month.
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