PumPumPum, a Gurugram-based startup to offer ‘used car leasing’ in the corporate and retail segment, raised Rs 2.2 cr in seed funding from LetsVenture Syndicate, led by Pallav Pandey (former Co-founder and CEO, Fastfox).Other investors include Ritesh Malik (Founder and CEO, Innov8), Shobhit Shukla (Co-Founder, Near.co), and Rahul Agarwal (CFO, Near.co).
PumPumPum said it plans to utilise the capital for category disruption, technology development, brand building and expansion.
Tarun Lawadia, Founder and CEO, PumPumPum said, “We are committed to offer a hassle-free smart car experience with zero down-payments, zero maintenance charges and zero insurance premiums. Ranging from monthly subscriptions of Rs 10,000 to Rs 1 lakh, PumPumPum car subscriptions are dynamic, based on duration of subscription. Witnessing a huge demand for luxury cars in the segment, we are also planning to offer Used Luxury Cars in the leasing format. The capital infusion will help us in category disruption and strengthen our product development, marketing and expansion plans.”