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SharesPost helps facilitate USD200m financing for TrueCar

TrueCar, a publisher of real-time transparent new and used vehicle transaction data in the US market, has raised USD200 million of growth capital, in part by leveraging its private investor portal on SharesPost.

 

SharesPost’s company-controlled online transaction platform allows users to connect with SharesPost’s members, who comprise the industry’s largest network of qualified institutional buyers and sophisticated, accredited, individual private equity investors.

By providing companies with access to growth capital as another benefit to its platform, SharesPost has signalled the next phase of its evolution and the development of its online private capital marketplace.

"SharesPost introduced TrueCar to the kind of long-term institutional private equity investors we were looking to partner with, and then provided us with a unique, highly-efficient way to communicate with them simultaneously," says Scott Painter, CEO of TrueCar. "As a result, we were able to complete the round much more quickly, and on better terms, than I think we would have obtained without the platform. In the future, we look forward to using our SharesPost investor portal to keep our shareholders informed of our progress."

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