Strengthening its growth plans in India’s mobility and fintech space, Gurugram-based PumPumPum has raised ₹18 crore in a pre-Series A funding round led by LC Nueva. The round also saw participation from Mufin Green and Anupam Finserv.
With this fundraise, the startup continues to build on earlier backing of ₹2 crore secured in March 2024 in a round led by Inflection Point Ventures. The latest capital will be used to advance PumPumPum’s asset-light fintech platform, expand B2B2C employee leasing partnerships, and strengthen original equipment manufacturer and dealer networks across new, used, and electric vehicle segments.
The company said it will also deploy funds to deepen its presence in metro markets and scale its technology, sales, and customer success teams.
Co-founded by Tarun Lawadia and Sameer Kalra, PumPumPum started as a used car leasing platform and has evolved into a full-stack B2B and B2B2C corporate mobility solutions provider. It offers passenger vehicle leasing across new, used, and electric vehicles, catering to corporates, SMEs, MSMEs, and fleet operators.
The company currently operates 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 startup manages the entire asset lifecycle. This includes vehicle health monitoring, maintenance, and a structured redeployment and resale setup designed to reduce default risks that traditional leasing models often face.
Over the last 6 years, PumPumPum claims to have developed strong operational expertise in employee leasing and business vehicle solutions. The company reports 70% year-on-year growth, manages over 1,000 vehicles, and has crossed ₹100 crore in Assets Under Management.
Industry data highlights the market opportunity. Leasing penetration in India remains under 5%, compared with over 30% in mature global markets. PumPumPum addresses this gap by offering certified pre-owned vehicles on a monthly subscription model that includes maintenance, repairs, and insurance, with costs aimed to match or undercut traditional ownership.
The platform also uses IoT devices installed in vehicles to track driving behaviour and vehicle health. This data enables predictive maintenance, real-time credit checks, and smart app-based features for customers.
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