Mobility startup Pumpumpum secures INR 2 Crores investment from Inflection Point Ventures

Pumpumpum, a mobility startup, has received INR 2 Crores in funding from Inflection Point Ventures (IPV), an angel investing platform. The company, known as India’s pre-owned car leasing firm, caters to both corporate entities and individual customers, offering an IoT-enabled smart car subscription model. The investment will be deployed towards various growth initiatives such as operational enhancements, geographical expansion, technological upgrades, marketing endeavors, and overall organizational development.

Financial institutions, including banks and NBFCs, exhibit caution in financing EVs due to concerns regarding new technology and uncertainties surrounding future resale prices. This creates an opportunity for leasing companies to support EV demand. Pumpumpum is working on leasing solutions to facilitate the EV ownership, aiming to accelerate early adoption. Currently, 25% of its fleet consists of EVs, with plans to increase this to 50% within the next 3-4 years, as claimed by the official statement.

Established in 2018 by Tarun Lawadia and Sameer Kalra, Pumpumpum is led by them in steering the company’s strategic expansion and operational management, drawing from their diverse expertise across sectors. The company operates within the Fintech mobility sector, offering a B2B & B2C pre-owned car leasing model. Leveraging technology and data analytics, the company targets India’s USD 6 billion Serviceable Addressable Market (SAM) for pre-owned car leasing.

In contrast, Inflection Point Ventures (IPV) serves as an angel investing platform, supporting new-age entrepreneurs through both monetary and experiential capital. IPV has introduced Physis Capital, a USD 50 million CAT 2 AIF, aimed at investing in growth-stage startups ranging from pre-Series A to Series B. IPV, having invested over INR 650 Cr across 200+ deals, sees potential in Pumpumpum’s approach.

Vinay Bansal, Co-Founder, Inflection Point Ventures says, “India is now a country with the highest population, the biggest need one has after roti kapda aur makaan is transportation. Two-wheeler for a bachelor and 4-wheeler for a family is not a convenience but a necessity. However, only about 8% of Indian households (approximately 1 in 12) own cars. Hence the notion of leasing out pre-owned cars is bound to succeed. And Pumpumpum is category creator and leader, in the market of leasing pre-owned cars”.

Tarun Lawadia, Founder & CEO, Pumpumpum says, “IPV’s second round of funding with Pumpumpum highlights our commitment to revolutionizing auto leasing and amplifying mobility options for all. This investment underscores our shared vision of making car leasing accessible, convenient, and affordable, while leveraging Pumpumpum’s unique selling proposition to redefine industry standards.”

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