About Truebil
Truebil is a company based in Mumbai (India) founded in 2015 by Rakesh Raman was acquired by Spinny in August 2020.. Truebil has raised $26.91 million across 8 funding rounds from investors including Spinny, People Group and Kae Capital. The company has 5 employees as of April 06, 2024. Truebil offers products and services including Used Car Buying Platform, Car Selling Service, and Car Finance Service. Truebil operates in a competitive market with competitors including Spinny, CarDekho, CarWale, Droom and CarTrade Tech, among others.
- Headquarter Mumbai, India
- Employees 5 as on 06 Apr, 2024
- Founders Rakesh Raman
- Stage Minicorn
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Sectors
Transportation, Automotive & Logistics
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Paix Technology Private Limited
- Date of Incorporation 13 Mar, 2015
- Jurisdiction Navi Mumbai, Maharashtra, India
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Annual Revenue
$2.67 M (USD)-92.17as on Mar 31, 2021
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Net Profit
$636.58 K (USD)108.19as on Mar 31, 2021
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EBITDA
$482.8 K (USD)107.35as on Mar 31, 2021
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Total Equity Funding
$26.91 M (USD)
in 8 rounds
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Latest Funding Round
$1 M (USD), Series B
Aug 23, 2019
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Investors
Spinny
& 11 more
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Employee Count
5
as on Apr 06, 2024
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Acquired by
Spinny
(Aug 06, 2020)
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Products & Services of Truebil
Truebil offers a comprehensive portfolio of products and services, including Used Car Buying Platform, Car Selling Service, and Car Finance Service. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Online service for purchasing certified pre-owned vehicles.
Platform to sell used cars with instant quotes and evaluations.
Assistance for loans and financing on used car purchases.
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Funding Insights of Truebil
Truebil has successfully raised a total of $26.91M across 8 strategic funding rounds. The most recent funding activity was a Series B round of $1 million completed in August 2019. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 8
- Last Round Series B — $1.0M
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First Round
First Round
(01 Jun 2015)
- Investors Count 11
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2019 | Amount | Series B - Truebil | Valuation | Spiral Ventures |
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| Jan, 2019 | Amount | Series B - Truebil | Valuation | Joe Hirao | |
| Jan, 2019 | Amount | Debt – Conventional - Truebil | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Truebil
Truebil has secured backing from 12 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Spinny, People Group and Kae Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital firm focusing on technology investments in Southeast Asia and India.
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Founded Year | Domain | Location | |
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Investments in early-stage technology companies are made by Kalaari Capital.
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Founded Year | Domain | Location | |
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Early-stage investing in tech startups in India.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Truebil
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Truebil
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Truebil Comparisons
Competitors of Truebil
Truebil operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Spinny, CarDekho, CarWale, Droom and CarTrade Tech, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Retailer of inspected, certified pre-owned vehicles with service and finance options
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| domain | founded_year | HQ Location |
Retailer of new automobiles, used vehicles, and related automotive news
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| domain | founded_year | HQ Location |
Second-hand cars are listed online to connect buyers and sellers.
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| domain | founded_year | HQ Location |
Used vehicles are bought and sold through an AI platform.
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| domain | founded_year | HQ Location |
Online marketplace for used cars
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| domain | founded_year | HQ Location |
Multi-brand used cars are traded via an online marketplace platform.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Truebil
Frequently Asked Questions about Truebil
When was Truebil founded?
Truebil was founded in 2015.
Where is Truebil located?
Truebil is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Is Truebil a funded company?
Truebil is a funded company, having raised a total of $26.91M across 8 funding rounds to date. The company's 1st funding round was a Series B of $14M, raised on Jun 01, 2015.
How many employees does Truebil have?
As of Apr 06, 2024, the latest employee count at Truebil is 5.
What is the annual revenue of Truebil?
Annual revenue of Truebil is $2.67M as on Mar 31, 2021.
What does Truebil do?
Truebil was founded in 2015 in Mumbai, India, as an online platform in the automotive sector. Used cars are listed by sellers after inspections conducted by company representatives. Operations facilitate peer-to-peer transactions, with buyers able to search listings and complete payments digitally. Additional services, including document transfers, insurance arrangements, and loan facilitation, are provided to support the process.
Who are the top competitors of Truebil?
What products or services does Truebil offer?
Truebil offers Used Car Buying Platform, Car Selling Service, and Car Finance Service.
Who are Truebil's investors?
Truebil has 12 investors. Key investors include Spinny, People Group, Kae Capital, Athera Venture Partners, and Spiral Ventures.
What is Truebil's valuation?
The valuation of Truebil is $43.83M as of Aug 2019.
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