Truebil.com is a Mumbai based virtual marketplace for trading used cars in major Indian cities like Mumbai, Bangalore and Delhi, launched on 13 March 2015. Truebil uses AI (artificial intelligence) algorithms to predict the ideal price of used cars based on various parameters like the condition of the car, geographical and seasonal factors.
Video Truebil
History
Truebil was co-founded by seven ex-IITians namely Suraj Kalwani (CEO), Ravi Chirania, Shubh Bansal, Rakesh Raman, Ritesh Pandey, Shanu Vivek and Himanshu Singhal in 2015.
Maps Truebil
Finance/Funding
Multiple investors have invested in Truebil. Kae Capital and angel investor Anupam Mittal invested a sum of $500,000; Kalaari Capital, Inventus Capital and Tekton Ventures pumped $5.15 million as Series-A funding. It have also received an additional $3 million from Shunwei in Follow-on Series A funding.
Services
Truebill offers features like valuation, quick sell guarantee, vehicle buying consulting, smooth paper transfer, loan assistance and insurance, among others. The platform has 3 offerings:
- Curated Marketplace - Acts as a curated marketplace for customers who can choose used cars from a variety of sources. It vets & refurbishes cars after procuring them from sellers and allows customers to choose from a huge variety of these refurbished cars.
- Truebil Direct - Launched in November 2016, this model enables customers to buy refurbished cars directly from offline stores of Truebil located in Delhi, Mumbai, and Bangalore. The company then handles all paperwork related to ownership transfer, loan and insurance.
- Payment via Bitcoins - Truebil has collaborated with Unocoin to accept payments through bitcoins. Buyers can use Unocoin's PoS application to complete the transaction using bitcoins.
References
Source of the article : Wikipedia
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