[Funding alert] Used car leasing startup PumPumPum raises undisclosed amount from LC Nueva AIF – YourStory.com

Gurugram-based mostly startup Pumpumpum , which provides used automotive leasing Inside The agency and retail half, on Wednesday introduced that it has secured an undisclosed quantity Of latest bridge funding from LC Nueva AIF, an India domiciled Class II AIF Fund, the place LC Nueva Funding Companions LLP is the Funding Supervisor.

PumPumPum plans To make the most of the capital for shopper consciousness, know-how enchancment, and enlargement in over 15 cities throughout the nation. 

Sohil Chand, Chief Funding Officer, LC Nueva AIF, said, “Pushed by millennials’ quest for an asset-mild way of life and distinctive experiences, PumPumPum is radically altering The biggest method the world appears at mobility and subscriptions. Subscriptions maintain immense potential as They current problem-free automotive possession And in addition assist save An monumental quantity of tax, Ensuing in a Much less costly mode of commuting.

“We’re assured that this investment and halfnership will make an impactful contribution to the fintech mobility stempo and drive adoption for used automotive leasing in India.”

PumPumPum’s Group

Tarun Lawadia, Founder and CEO, PumPumPum said, “Used automotive leasing and subscription is now quick catching tempo Inside the nation as staff are avoiding public transport for safety causes and agencys are looking for an pretty priced automotive leasing mannequin as an finish-to-finish worker mobility reply.

“A pre-owned automotive leasing coverage Is Amongst The numerous latest trfinishs driving the HR rule e-book of a majority of agencys and startups Inside the nation. The funding Shall be used to deepen PumPumPum’s presence in its current markets and increase into new ones.”

The agency is presently offering its providers in Delhi-NCR, Mumbai, and Bengaluru, and has aggressive plans To Obtain out To fifteen cities Inside The subsequent one yr.

Addressing The huge potential of used automotive leasing Inside the nation, Sameer Kalra, Co-Founder and Chief Progress Officer, said the startup was simply scratching the floor of the multibillion-greenback market Inside the pre-owned automotive leasing stempo.

“We’re working non-cease To steer this quick-rising market. The used-automotive leasing trfinish in India is on The sting of redefining The method forward for mobility and subscription. India’s millennial inhabitants is getting future-In a place to gasoline this transformation,” Sameer said.

Edited by Teja Lele Desai

Source: https://yourstory.com/2021/09/used-car-leasing-startup-pumpumpum-bridge-round/amp