Gurugram-based PumPumPum, a pioneer in the used car leasing space, has raised ₹18 crore in a Pre-Series A funding round. The investment was led by early-stage VC firm LC Nueva, with participation from Mufin Green Finance and Anupam Finserv.
Originally starting as a B2C leasing platform for millennials, PumPumPum has evolved into a full-stack corporate mobility solutions provider. It now offers B2B and B2B2C leasing options, helping companies manage employee transportation without heavy asset ownership.
FounderStory Intelligence
Why "Used Car Leasing"?
In a country where car ownership is aspirational but expensive, PumPumPum offers a middle ground. By leasing used cars (instead of new ones), they dramatically lower the monthly cost for the user while ensuring the vehicle is refurbished and maintained.
For corporates, this model offers a capital-efficient way to provide perks to employees without blocking capital in depreciating assets.
Technology as the Differentiator
The startup plans to use the fresh funds to accelerate the development of what it calls "India's first asset-light leasing technology platform." This tech layer will likely automate credit underwriting, residual value calculation, and fleet management, allowing them to scale without owning every car on their books.
"The startup will use the funds to accelerate the development of... India's first asset-light leasing technology platform."
FounderStory Takeaway
The shift from B2C to B2B corporate mobility is a smart pivot for PumPumPum. It provides predictable revenue streams and higher contract values. With backing from LC Nueva and Mufin Green, they are well-positioned to capitalize on the "Subscription Economy" trend hitting the Indian automotive sector.