Pumpumpum secures 2 Cr in funding

Inflexion Point Ventures (IPV) has disclosed a notable investment of INR 2 Crores in Pumpumpum, a burgeoning Fintech mobility startup. The capital infusion is earmarked for diverse purposes, including operational expansion, geographical outreach, technological enhancements, marketing initiatives, and overall organizational fortification to enhance visibility and ensure sustained success for the enterprise.

Established in 2018 by Tarun Lawadia, the Founder & CEO, and Sameer Kalra, the Co-Founder & CGO, both distinguished alumni of IIT and seasoned professionals in the leasing domain, Pumpumpum is dedicated to providing affordable and flexible mobility solutions. Together, they steer Pumpumpum towards strategic growth and operational excellence, drawing upon their rich expertise across various industries.

Vinay Bansal, Co-Founder of Inflection Point Ventures, remarks, “In a nation like India, characterized by a burgeoning population, transportation ranks high in the hierarchy of essential needs, following food, clothing, and shelter. While two-wheelers suffice for bachelors, and four-wheelers are indispensable for families, car ownership remains a luxury, with only about 8% of Indian households owning cars. Consequently, the concept of leasing pre-owned cars holds immense promise. Pumpumpum emerges as a trailblazer and market leader in this domain.”

Tarun Lawadia, Founder & CEO of Pumpumpum, expresses, “IPV’s continued investment in Pumpumpum underscores our unwavering commitment to revolutionize auto leasing and broaden mobility alternatives for all. This funding accentuates our shared vision of democratizing car leasing, making it accessible, convenient, and economical. Leveraging Pumpumpum’s distinctive value proposition, we aim to redefine industry norms.”

Pumpumpum’s prominence in the Fintech mobility arena is attributed to its innovative B2B2C & B2C pre-owned car leasing model. Unlike conventional ownership or new car leasing frameworks, Pumpumpum offers a subscription-based platform prioritizing consumer convenience, flexibility, and affordability. Through adept utilization of technology and data analytics, the company delivers a seamless, personalized experience, setting benchmarks for accessibility and convenience.

Operating nationwide in the expansive market of pre-owned car leasing, Pumpumpum positions itself strategically to capitalize on the substantial $6 billion Serviceable Addressable Market (SAM) for pre-owned car leasing in India. Its commitment to nationwide coverage aligns with its objective of furnishing innovative, convenient, pre-owned car leasing solutions to a diverse clientele, solidifying its stature as a pivotal player in the Indian automotive landscape.

Pumpumpum’s stellar performance has earned it several prestigious awards and accolades, including the ET Now Leaders of Tomorrow in the Fintech category, Most Innovative Fintech Product of the Year and Emerging Company of the Year at the World BFSI Congress and ET Accent Business Leads of the Year respectively. Pumpumpum was recognized as the “Best Emerging Auto Leasing Company of the Year” at the Iconic Platinum Awards.

In essence, Pumpumpum, a FinTech startup in Auto Leasing founded in 2018, is experiencing exponential growth at 200% YOY and is reshaping vehicle ownership paradigms by offering on-demand access to aspirational cars, thereby revolutionizing the pre-owned automotive sector.