Gurugram-based mobility startup PumPumPum has raised ₹18 crore in a pre-Series A funding round, marking a significant step in its evolution from a used-car leasing startup into a full-stack corporate mobility solutions provider. The round was led by LC Nueva, with participation from Mufin Green and Anupam Finserv.
The latest capital infusion comes less than a year after the company raised ₹2 crore in March 2024, led by Inflection Point Ventures. With fresh funding in hand, PumPumPum is accelerating its ambition to build a technology-led, asset-light mobility ecosystem tailored for India’s corporates and enterprises.
Credits: Ascendants
From Used Car Leasing to Full-Stack Mobility Platform
Founded by Tarun Lawadia and Sameer Kalra, PumPumPum began its journey focused on used-car leasing. Over time, the startup has expanded its scope to serve B2B and B2B2C corporate mobility needs, offering leasing solutions across new, used, and electric vehicles.
Today, the company caters to corporates, MSMEs, SMEs, and fleet operators, positioning itself as a comprehensive mobility partner rather than a traditional leasing provider. Its services currently span major metro markets including Delhi NCR, Bengaluru, Hyderabad, Mumbai, and Chennai, with plans to deepen its presence in these cities while expanding to new urban clusters.
Asset-Light Fintech Model at the Core
At the heart of PumPumPum’s offering lies its asset-light fintech platform, designed to bridge the gap between lenders and end users. Banks and non-banking financial companies provide the capital, while PumPumPum manages the entire asset lifecycle—from onboarding and vehicle deployment to maintenance, monitoring, and resale.
The newly raised funds will be deployed to further strengthen this platform, enabling smoother capital deployment for lenders and simpler, more transparent mobility solutions for customers. The company is also focusing on scaling B2B2C employee leasing partnerships and expanding relationships with OEMs and dealer networks across internal combustion and electric vehicle segments.
Reducing Risk Through Technology and Operational Control
One of the key challenges in vehicle leasing is managing default risk and asset degradation. PumPumPum claims its technology-led, end-to-end control model significantly reduces these risks.
The startup uses IoT-enabled devices to monitor vehicle health and driving behaviour in real time. This data feeds into predictive maintenance systems, helping reduce downtime and preserve asset value. In addition, the company has built a structured redeployment and resale infrastructure, ensuring vehicles can be efficiently repurposed or sold at the end of a lease cycle.
By combining fintech, data analytics, and operational execution, PumPumPum aims to create a more predictable and secure leasing environment for lenders, corporates, and end users alike.
Steady Growth and Rising Asset Scale
Over the past six years, PumPumPum says it has built deep operational expertise in employee leasing and business mobility solutions. The company reports 70 percent year-on-year growth and currently manages a fleet of over 1,000 vehicles.
It has also crossed ₹100 crore in assets under management, reflecting growing adoption of its leasing and subscription-based offerings among corporate clients. The startup plans to use the new capital to expand its technology, sales, and customer success teams to support this growth.
Credits: Entrepreneur
Tapping Into a Low-Penetration Leasing Market
Vehicle leasing remains a largely underpenetrated segment in India, with less than 5 percent adoption, compared to over 30 percent in mature global markets. PumPumPum believes changing ownership preferences, cost efficiencies, and increased corporate focus on flexibility will drive wider adoption in the coming years.
Beyond corporate leasing, the company also offers certified pre-owned vehicles on a subscription model, bundling maintenance, repairs, and insurance into a single monthly fee. By leveraging data-driven insights and flexible pricing, PumPumPum aims to make vehicle access simpler, more affordable, and more predictable.
As it deploys its fresh capital, PumPumPum is positioning itself to play a meaningful role in shaping India’s evolving corporate mobility and vehicle leasing landscape.
