91trucks Raises 5 Million USD In Series A Funding, Plans Expansion, Financial Inclusion In Used Commercial Vehicles Market

Used commercial vehicle platform 91trucks has secured $5 million in Series A funding led by Arkam Ventures, with participation from Titan Capital, Winners Fund, and existing investors Sparrow Capital and Atrium Angels Fund to transform India's informal and fragmented used truck market. The three-year-old startup plans to equip small fleet operators and DCOs with a full-stack, end-to-end solution of vehicle discovery, financing, documentation, and post-sales services.

Talking to CNBC-TV18 about the mission of the company, co-founder and CEO Siddharth Sharma commented, "This industry is still fragmented. There's no organized and reliable platform that facilitates retail buyers to buy used commercial vehicles with confidence."91trucks fills in this gap by serving two key customer segments—fleet operators who operate 5–8 vehicles and would-be micro-entrepreneurs who run their own trucks.

With an aim to reorganize this unorganized industry into a structured ecosystem, 91trucks aims to increase its physical presence pan-India beyond its current hub in Delhi NCR. The recently raised capital shall be utilized to launch 15–20 new stores, increasing the company's offline presence to more than 25 stores by the end of the ongoing financial year. "Used trucks are not a luxury purchase—they're assets of livelihood," Sharma stressed, laying out the significance of touch-and-feel in buying decisions.

Apart from its retail expansion, the company is doubling up on its financial services business to make truck ownership easier. By tying up with several banks and NBFCs, 91trucks facilitates quick loan disbursal to a variety of customer profiles, and also provides end-to-end services such as documentation and RTO transfers. The warranty support is one feature that stands out, where vehicle buyers get after-sales support, hence making it easy to build enduring confidence.

Sharma also disclosed that the firm is likely to achieve ₹100 crore in revenue this year with an estimated exit annual run rate (ARR) of ₹180–₹220 crore. The growth in the firm's 8x revenue over the last two years has been primarily attributed to word-of-mouth marketing, with customers who are happy with the firm's services becoming powerful champions among their communities.

In the future, 91trucks plans to tap a slice of India's $50 billion market for used commercial vehicles, focusing especially on tier 2 and tier 3 cities. It is incorporating AI-based tools to navigate buyers according to their operating requirements and is in the process of making 10-minute approval of loans a reality—transferring the tech-enabled efficiencies that have come from the used car segment to commercial logistics.

“We’re building a brand rooted in trust and tech—a one-stop solution for anyone who wants to start or expand their trucking business,” Sharma concluded.

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