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Pumpumpum Drives Growth with Fresh Funding

Fintech mobility startup Pumpumpum has secured Rs 2 crore in funding, led by Inflection Point Ventures (IPV). This fresh capital injection will propel the company's expansion across various fronts.

Pumpumpum plans to leverage the funding to bolster its operations, expand geographically, invest in technological advancements, and strengthen its marketing efforts.


Founded in 2018 by industry veterans Tarun Lawadia (Founder & CEO) and Sameer Kalra (Co-Founder & CGO), Pumpumpum is dedicated to providing affordable and flexible car leasing solutions. Lawadia emphasized their unwavering commitment to innovation, stating that "this investment reinforces our mission to revolutionize the auto leasing landscape and expand mobility options for all. We aim to make car leasing accessible, convenient, and budget-friendly, leveraging our unique selling proposition to redefine industry standards."


Pumpumpum has experienced a remarkable 200% year-over-year growth rate. Their core service revolves around offering on-demand access to a wide range of desirable cars, effectively transforming the pre-owned car market.


Vinay Bansal, Co-Founder of IPV, acknowledged the crucial role that transportation plays in India, highlighting the limited car ownership rate. He sees immense potential in Pumpumpum's pre-owned car leasing model, considering the vast unmet demand for such solutions.


Pumpumpum distinguishes itself in the Fintech mobility sector through its unique approach to leasing pre-owned vehicles to both businesses and individuals. Unlike traditional car ownership or new car leasing models, Pumpumpum offers a subscription-based service. This approach makes car access simpler, more adaptable, and cost-effective for customers.


Furthermore, Pumpumpum leverages technology and data analytics to deliver a personalized and user-friendly experience for each customer. This data-driven approach has established a new benchmark for accessibility and convenience within the car leasing sector. The company also boasts a diverse fleet encompassing popular and distinctive car models, catering to a wider customer base and fostering trust with financial institutions.


 

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