PumPumPum, a used automobile leasing and now a full-stack B2B and B2B2C company mobility options supplier, has raised Rs 18 crore in a pre-Collection A funding spherical.

Early stage enterprise capital agency LC Nueva led the spherical with participation from Mufin Inexperienced and Anupam Finserv. 

The startup will use the funds to speed up the event of what it describes India’s first asset-light leasing expertise platform, designed to unlock large-scale, capital-efficient progress in company mobility.

It is going to deploy capital throughout advancing the asset-light fintech platform, increasing B2B2C worker leasing partnerships, strengthening OEM and seller networks throughout new, used and EV segments, deepening presence in metro markets, and scaling expertise, gross sales and buyer success groups. 

PumPumPum mentioned it has advanced from a used-car leasing firm right into a complete company mobility platform providing leasing throughout new, used and electrical automobiles. It serves corporates, SMEs, MSMEs and fleet operators throughout main metro markets together with Delhi NCR, Bengaluru, Hyderabad, Mumbai and Chennai.

The startup’s in-house fintech platform permits banks and NBFCs to deploy capital utilizing expertise, whereas PumPumPum manages the total car lifecycle. This consists of car well being monitoring, upkeep, and a robust system for redeployment and resale.

Over the past six years, the corporate has constructed sturdy expertise in worker leasing and enterprise car options. It’s rising at 70% year-on-year, manages over 1,000 automobiles, and has crossed Rs 100 crore in Property Beneath Administration (AUM).

“Our six years of execution have been centered on fixing actual ache factors for each corporates and monetary companions. Conventional asset-heavy fashions restrict progress. Our asset-light platform modifications the equation by enabling environment friendly capital deployment whereas delivering a seamless mobility expertise. This funding validates our imaginative and prescient and accelerates our journey towards making company leasing mainstream in India,” mentioned Tarun Lawadia, Founder & CEO of PumPumPum, an alumnus of IIT Bombay and a third-time founder.

Commenting on the funding, Sohil Chand, Chief Funding Officer, LC Nueva mentioned, “We’re proud to be early backers of Pumpumpum and stay very bullish on the chance. The corporate is constructing an asset-light, technology-led platform with deep integrations throughout lenders, insurers, corporates, and finish prospects. We’re additionally joyful to have strategic traders Mufin Inexperienced Finance and Anupam Finserv investing alongside us on this spherical, and we look ahead to the journey forward.”

PumPumPum’s technology-first method mixed with their asset administration experience creates the operational effectivity the leasing market wants. Their platform offers us a singular alternative to construct a strategic leasing ebook with out operational complexity, establishing a brand new commonplace in company car leasing by way of our mixed strengths,” Kapil Garg, Promoter, Mufin Inexperienced Finance Restricted added.