Get All Access for $5/mo

PumPumPum Raises $2 Million In Equity Round The funds will be utilized to accelerate the company's plans and its vision to become India's largest mobility leasing company

By Saptak Bardhan

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company

PumPumPum on Thursday announced to have raised $2 million equity from LC Nueva Investment Partners, Founder's room capital, Lets Venture, Manish Agarwal and Uday Sodhi. The funds will be utilized to accelerate the company's plans and its vision to become India's largest mobility leasing company.

"PumPumPum is a futuristic used car leasing solution. Our business model ensures that we extend a hassle free experience and give customers the same feeling of owning a car without the added worry of vehicle maintenance and financing. This helped us record a 1000% growth in FY 2021-22, thus becoming EBIDTA positive," said Sameer Kalra, co-founder and CGO, and Tarun Lawadia, founder and CEO, PumPumPum in a joint statement.

"The idea of mobility and transportation has drastically changed in the last two years. We firmly believe that leasing of car by companies will see an unprecedented demand as more employees look for personal commute in the post-Covid era. This is where companies like PumPumPum will help in addressing this demand via its innovative business model," said Uday Sodhi, co-founder, Founders Room Capital.

PumPumPum is a mobility-focused leasing company with a unique understanding of the used car subscription or leasing model. The company provides hassle-free mobility solutions to its corporate and retail customers where they take care of end-to-end service, maintenance, insurance, and any other vehicle-related issues under a single lease rental/ subscription. PumPumPum is the first company in India to venture in the segment of subscription/leasing of used cars. Owing to the company's unique business model, customer-first approach and value-added services like insurance and servicing, PumPumPum recorded 1000 per cent growth in the auto segment in FY 2021-22. Though the company is currently only present in Delhi-NCR and Bengaluru but it manages and services its fleet in over 55 cities.

Saptak Bardhan

Former Trainee Writer

Former Trainee Writer
News and Trends

"45% of All Ongoing Hydropower Projects in India are Ours": Patel Engineering

Patel Engineering reported a turnover of INR 4,400 crore in the last fiscal year, with a projected 10 per cent growth for the current year.

Leadership

Visionaries or Vague Promises? Why Companies Fail Without Leaders Who See Beyond the Bottom Line

Visionary leaders turn bold ideas into lasting impact by building resilience, clarity and future-ready teams.

Science & Technology

Why Businesses Are Relying on Automation to Survive the Labor Crisis

Robots are revolutionizing industries by addressing labor shortages and enhancing efficiency, while businesses navigate challenges like workforce adaptation and high implementation costs.

Business News

Former Steve Jobs Intern Says This Is How He Would Have Approached AI

The former intern is now the CEO of AI and data company DataStax.

Science & Technology

5 Rule-Bending AI Hacks to Make Your Mornings More Productive and Profitable

By 2025, AI will transform productivity by streamlining workflows and cutting costs. Major companies like Microsoft, Google, and OpenAI are leading the way, advancing AI into "Phase 3," where tools act as digital assistants. Discover 5 AI hacks to boost efficiency and redefine your daily routine.