Fintech mobility startup Pumpumpum raises Rs 2 crore led by Inflection Point Ventures

Fintech mobility startup Pumpumpum has raised Rs 2 crore in a funding round led by Inflection Point Ventures, a Gurugram-based angel investment firm. 

The startup plans to use the raised capital to expand operations, geographical reach, technological advancements, marketing endeavours, and overall organizational development, which will increase visibility.

Who are the founders?

Founded in 2018 by Tarun Lawadia, Founder & CEO and Sameer Kalra, Co-Founder & CGO, both ex-IITians and senior leasing professionals working on affordable & flexible mobility solutions.

Tarun Lawadia, Founder & CEO, Pumpumpum, said, “IPV's second round of funding with PumPumPum highlights our commitment to revolutionizing auto leasing and amplifying mobility options for all. This investment underscores our shared vision of making car leasing accessible, convenient, and affordable, while leveraging PumPumPum's unique selling proposition to redefine industry standards."

Redefining vehicle ownership

PumPumPum claims to be growing 200% year over year and has redefined vehicle ownership by offering on-demand access to aspirational cars, revolutionizing the pre-owned automotive industry.

Vinay Bansal, Co-Founder, Inflection Point Ventures, said, “India is now a country with the highest population, the biggest need one has after roti kapda aur makaan is transportation. Two-wheeler for a bachelor and 4-wheeler for a family is not a convenience but a necessity. However, only about 8% of Indian households (approximately 1 in 12) own cars. Hence the notion of leasing out pre-owned cars is bound to succeed. And Pumpumpum is category creator and leader, in the market of leasing pre-owned cars''.

What does PumPumPum do?

PumPumPum stands out in the Fintech mobility sector because it has a unique way of leasing pre-owned cars to both businesses and consumers. Unlike traditional car ownership or leasing new cars, PumPumPum uses a subscription service that makes it easy, flexible, and affordable for customers.

The startup uses technology and data to ensure that each customer gets a personal, easy-to-use service. This approach has set new standards for how accessible and convenient car leasing can be.

It also offers a wide variety of cars, including both popular and unique options, which gives customers more choices and makes financial institutions more confident in the company.