TrueCar Secures $35.5M

TrueCar, a Santa Monica, CA-based operator of a new car pricing research site, has secured $35.5m in financing.
This cash, which includes a $21.5m credit facility from Silicon Valley Bank and other commitments from USAA, Capricorn Investment Group, and GRP Partners, will enable the company to grow organically and through acquisition.
TrueCar, which was founded by Scott Painter, the founder of CarsDirect and Zag, provides up to date and comprehensive new car price reports, based on real local sales transactions.

One comment

  • […] Led by Scott Painter, Founder and CEO, is a negotiation-free car buying platform, which allows car buyers to access to insight into what others actually paid, upfront pricing info, a guaranteed savings certificate and a connection to certified dealers to complete the car purchase. It operates a national network of nearly 7,000 certified dealers that provides negotiation-free pricing for some large membership and service organizations, including AARP, American Express, AAA, USAA and Consumer Reports. For the company, FinSMEs has reported this financing deals: 12/12/2013: Raises $30M in Funding 07/09/2011: TrueCar Secures up to $200M in Debt and Equity Financing 20/07/2010: TrueCar Secures $35.5M […]

Join the discussion