Gurugram, India – PumPumPum, a leading full-stack B2B and B2B2C corporate mobility and used car leasing startup, has successfully raised Rs 18 crore in its latest pre-Series A funding round. The investment was led by LC Nueva, with significant participation from Muffin Green and Anupam Finserv.

This capital injection marks a major milestone for the Gurugram-based company, which previously secured Rs 2 crore in a round led by Inflection Point Ventures (IPV) in March 2024. The new funds are earmarked for aggressive expansion and technological refinement as PumPumPum aims to disrupt the traditional vehicle ownership model in India.

Related: Shadowfax IPO Next Week: Logistics Giant Targets ₹7,400 Cr Valuation

According to the company, the fresh capital will be deployed to:

• Scale the Asset-Light Fintech Platform: Enhancing the digital infrastructure that connects banks and NBFCs with leasing opportunities.

• Strengthen B2B2C Partnerships: Expanding employee leasing programs for corporate clients.

• Deepen Market Presence: Increasing the company’s footprint in major metro hubs including Delhi NCR, Bengaluru, Hyderabad, Mumbai, and Chennai.

• Enhance OEM & Dealer Networks: Strengthening ties across new, used, and Electric Vehicle (EV) segments.

Founded by Tarun Lawadia and Sameer Kalra, PumPumPum is addressing a massive gap in the Indian automotive market. While vehicle leasing penetration in mature global markets exceeds 30%, it remains under 5% in India.

PumPumPum’s proprietary fintech platform allows financial institutions to deploy capital seamlessly. Unlike traditional leasing firms, PumPumPum manages the entire asset lifecycle, from vehicle health monitoring via IoT devices to maintenance and eventual resale. This end-to-end management significantly de-risks capital for lenders by providing real-time data on driving behavior and vehicle health.

Over the past six years, PumPumPum has evolved from a used car subscription service into a comprehensive mobility solutions provider. The company reports a 70% year-on-year growth rate, currently managing a fleet of over 1,000 vehicles. Its Assets Under Management (AUM) have recently crossed the Rs 100 crore threshold.

“Our goal is to modernize passenger vehicle leasing in India by offering a seamless, tech-driven experience across new, used, and electric vehicles,” the company stated. By providing certified pre-owned cars on a monthly subscription, PumPumPum eliminates the typical burdens of ownership—such as insurance, repairs, and depreciation—at costs often lower than traditional EMI-based purchases.

As the Indian market shifts toward sustainability, PumPumPum is doubling down on its EV leasing segment. By integrating predictive maintenance and smart app features, the platform ensures that corporate fleets and individual employees can transition to greener mobility without the high upfront costs or maintenance risks usually associated with electric vehicles.

With this latest round of funding, PumPumPum is well-positioned to lead the transition from “owning” to “using,” providing a flexible, cost-effective, and data-driven alternative for the modern Indian workforce and corporate sector.