Used-car leasing startup PumPumPum raises USD 2 mn from LC Nueva, Lets Venture, others

Pre-owned car subscription and leasing startup PumPumPum on Thursday said it has raised USD 2-million in equity from a host of investors, including LC Nueva Investment Partners, Founder's room capital, Lets Venture, among others.

The company is currently present in Delhi-NCR and Bengaluru, but manages and services its fleet in over 55 cities, as per a statement.

"We have secured USD 2-million in equity that will help us accelerate and contribute to the next leg of our growth," said Sameer Kalra, Co-Founder - CGO and Tarun Lawadia, Founder-CEO, PumPumPum.

Manish Agarwal, Founder-CEO, Nazara Group, and Uday Sodhi, Ex-Business Head Sony Liv also participated in the funding round, it said.

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The freshly raised capital will accelerate the company's plans, it added.

"In the last few years we have seen PumPumPum grow exponentially. We are happy to be partnering and investing in PumPumPum as we believe that the domestic used car segment has immense untapped potential," said Sohil Chand, Founding Partner, and CIO, LC Nueva Investment Partners.