PumPumPum raises Rs 18 Cr in pre-Series A round led by LC Nueva

PumPumPum, a startup in the used car leasing and now a full-stack B2B and B2B2C corporate mobility solutions provider, has raised Rs 18 crore in pre-Series A funding round led by LC Nueva along with participation from Mufin Green and Anupam Finserv.

The Gurugram-based company had previously mopped up Rs 2 crore in a funding round led by Inflection Point Ventures (IPV) back in March 2024.

The fresh funds will be deployed across advancing the asset-light fintech platform, expanding B2B2C employee leasing partnerships, strengthening OEM and dealer networks across new, used and EV segments, deepening presence in metro markets, and scaling technology, sales and customer success, PumPumPum said in a fresh release.

Co-founded by Tarun Lawadia and Sameer Kalra, PumPumPum aims to modernise passenger vehicle leasing in India that offers leasing across new, used and electric vehicles. The company serves corporates, SMEs, MSMEs and fleet operators across major metro markets including Delhi NCR, Bengaluru, Hyderabad, Mumbai, and Chennai.

According to PumPumPum, its proprietary fintech platform enables banks and NBFCs to deploy capital seamlessly through technology, while the company manages the asset lifecycle end-to-end. This includes vehicle health monitoring, maintenance, and a robust redeployment and resale infrastructure that significantly de-risks defaults that traditional leasing companies lack.

Over the last six years, the company claims to have built deep operational expertise in employee leasing and business vehicle solutions. It is growing at 70% year-on-year, currently manages more than 1,000 vehicles, and has crossed Rs 100 crore in  Assets Under Management (AUM).

According to a market research, leasing penetration in India is under 5% whereas it is pegged at over 30% in mature global markets. 

PumPumPum provides certified pre-owned cars on a monthly subscription, covering all car-related hassles like maintenance, repairs, and insurance, aiming to offer costs comparable to or lower than traditional ownership. The platform uses IoT devices in cars to collect driving behavior and health data, enabling predictive maintenance and offering smart features via their app, alongside real-time credit checks.