PumPumPum raises ₹18 crore in Pre-Series A funding • EVreporter

Mobility startup, PumPumPum (Dream Road Technologies Private Limited) has raised ₹18 crore in a Pre-Series A equity funding round. The round was led by early-stage venture capital firm LC Nueva, with participation from Mufin Green and Anupam Finserv.

The company plans to use the funds to develop an asset-light leasing technology platform aimed at corporate mobility solutions. The capital will be allocated toward platform development, expansion of B2B2C employee leasing partnerships, strengthening OEM and dealer networks across new, used, and electric vehicle segments, expanding operations in metro markets, and scaling technology, sales, and customer support teams.

Founded to address passenger vehicle leasing requirements in India, PumPumPum began as a used-car leasing company and has since expanded to offer leasing solutions for new, used, and electric vehicles. Its services cater to corporates, SMEs, MSMEs, and fleet operators across metro markets including Delhi NCR, Bengaluru, Hyderabad, Mumbai, and Chennai.

The company operates on an asset-light model, enabling financial institutions such as banks and NBFCs to deploy capital through its technology platform, while PumPumPum manages the vehicle lifecycle. This includes vehicle health monitoring, maintenance, and resale or redeployment processes.

Over the past six years, PumPumPum has focused on employee leasing and business vehicle solutions. The company reports year-on-year growth of 70%, manages over 1,000 vehicles, and has crossed ₹100 crore in assets under management (AUM). Vehicle leasing penetration in India remains below 5%, compared to over 30 percent in several global markets. The company has stated a target of reaching ₹1,000 crore in AUM over the next three years.

Tarun, Founder and CEO of PumPumPum, stated that “Our six years of execution have been focused on solving real pain points for both corporates and financial partners. Traditional asset-heavy models limit growth. Our asset-light platform changes the equation by enabling efficient capital deployment while delivering a seamless mobility experience. This funding validates our vision and accelerates our journey toward making corporate leasing mainstream in India,”

Sohil Chand, Chief Investment Officer at LC Nueva, said “We are proud to be early backers of Pumpumpum and remain very bullish on the opportunity. The company is building an asset-light, technology-led platform with deep integrations across lenders, insurers, corporates, and end customers. We are also happy to have strategic investors Mufin Green Finance and Anupam Finserv investing alongside us in this round, and we look forward to the journey ahead.”

Kapil Garg, Promoter at Mufin Green Finance Limited, commented “PumPumPum’s technology-first approach combined with their asset management expertise creates the operational efficiency the leasing market needs. Their platform gives us a unique opportunity to build a strategic leasing book without operational complexity, establishing a new standard in corporate vehicle leasing through our combined strengths,”

As corporates increasingly adopt operating expense-based mobility models, the company aims to position its platform within the corporate vehicle leasing ecosystem.

Also read: Mobility startup PumPumPum secures INR 2 crore investment from Inflection Point Ventures