Truebil, a Mumbai-based online marketplace for pre-owned cars, has announced that it has raised $500,000 from Kae Capital and angel investor Anupam Mittal.
The startup plans to use the capital to develop technology to enhance user experience and expand to other cities in the country.
Truebil is looking to onboard customers by offering free inspection and valuation, free vehicle buying consulting, and assistance for paper transfer, getting loans and insurance.
Launched on March 13, the startup so far has over 1,000 cars listed on its portal and has assisted in the sale of 156 cars in Mumbai alone.
Truebil is headed by a team of seven individuals who have extensive startup experience having worked for firms like Housing.com, Fab.com, Fusion Charts etc.
It currently has a team of 50 individuals based out of Mumbai, including it own team of auto engineers.