Used car leasing startup PumPumPum raises Rs 2 Cr in debt
PumPumPum, which offers used car leasing in the corporate and retail segment, announced that it secured Rs 2 cr in debt funding from ICICI Bank, Canara Bank, and Kogta Financials. The startup said the funding will be primarily used to accelerate its used car leasing platform and meet its asset financing requirements.
PumPumPum has monthly subscriptions ranging from Rs 10,000 to Rs 1 lakh, based on its duration. The startup is also planning to offer used luxury cars in the leasing format. At present, its services are available in Delhi-NCR, and it plans to reach out to newer markets, including Bengaluru, Hyderabad, Mumbai, and Pune.