PumPumPum Raises INR 18 Crore in Pre-Series A Round led by LC Nueva

PumPumPum, a monthly car subscription service platform has raised INR 18 Cr ($2 Mn) in a pre-Series A funding round led by existing investor LC Nueva.

The round also saw participation from Mufin Green Finance and Anupam Finserv.

The startup will use the funds to speed up development of its asset-light leasing technology platform, grow its employee leasing partnerships, and build stronger relationships with OEMs and dealers.

It will also use part of the funding to expand further in metro cities and grow its technology and sales teams.

Read also- Healthcare startup Sukino raises $31 million in Series B round led by Bessemer

“Our six years of execution have been focused on solving real pain points for both corporates and financial partners. Traditional asset heavy models limit growth. Our asset light platform changes the equation by enabling efficient capital deployment while delivering a seamless mobility experience. This funding validates our vision and accelerates our journey toward making corporate leasing mainstream in India,” said Tarun Lawadia, Founder & CEO of PumPumPum, an alumnus of IIT Bombay and a third-time founder.

Sohil Chand, Chief Investment Officer, LC Nueva said, “We are proud to be early backers of Pumpumpum and remain very bullish on the opportunity. The company is building an asset-light, technology-led platform with deep integrations across lenders, insurers, corporates, and end customers. We are also happy to have strategic investors Mufin Green Finance and Anupam Finserv investing alongside us in this round, and we look forward to the journey ahead.”

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"PumPumPum's technology-first approach combined with their asset management expertise creates the operational efficiency the leasing market needs. Their platform gives us a unique opportunity to build a strategic leasing book without operational complexity, establishing a new standard in corporate vehicle leasing through our combined strengths,” Kapil Garg, Promoter, Mufin Green Finance Limited said.

About PumPumPum 

Founded in 2018 by Sameer Kalra and Tarun Lawadia, PumPumPum offers pre-owned car leasing for young professionals and small businesses, with both short-term and long-term plans.

Along with leasing, it also provides services such as maintenance and insurance. The startup competes with companies like Xchange Leasing and ola Fleet Technologies.

The startup has raised over $3.5 million since it began and is backed by investors such as Inflection Point Ventures, LetsVenture, Founder’s Room Capital, and Sprint VC, among others.

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