Gurugram-based startup PumPumPum, which presents used automobile leasing in the company and retail segment, introduced that it secured Rs two crore in debt funding from ICICI Bank, Canara Bank, and Kogta Financials.

The startup stated the funding will be exceptionally used to speed up its used vehicle leasing platform and meet its asset financing requirements. It additionally plans to use the money to prolong its fleet of vehicles by way of including 1,000 extra vehicles.
This will assist in scaling up its business, as properly as increase on a month-to-month basis. PumPumPum additionally obtained standing directions of Rs 10 crore on debt financing from ICICI Bank and others

This debt funding is in addition to Rs 2.2 crore seed funding secured lately from a LetsVenture Syndicate led by means of Pallav Pandey (former Co-founder and CEO, Fastfox.com), with the participation of different angel traders which include Ritesh Malik (Founder and CEO, Innov8), Shobhit Shukla (Co-Founder, Near.co), Rahul Agarwal (CFO, Near.co).

PumPumPum has month-to-month subscriptions ranging from Rs 10,000 to Rs 1 lakh, based totally on its duration.

The startup is additionally planning to provide used luxurious vehicles in the leasing format.

At present, its offerings are on hand in Delhi-NCR, and it plans to attain out to more modern markets, consisting of Bengaluru, Hyderabad, Mumbai, and Pune.

Founded by using Tarun Lawadia and Sameer Kalra in 2018, PumPumPum is altering the common method of automobile possession with the aid of imparting IoT enabled pre-owned automobiles at less expensive and bendy subscriptions for quick to long-term period barring any hassles of offerings and maintenance.

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Mumbai: ICICI Bank has launched -‘iStartup2.0’ – a programme for startups that takes care of their banking as properly as beyond-banking wants such as regulatory assistance, analytics, staffing, accounting, patron acquisition and digital outreach to customers, amongst others.

‘iStartup2.0’ affords clients an eponymous Current Account which is reachable in three variants–Platinum, Gold and Silver– the widest vary by using any Bank for start-ups. New corporations (up to 10 years old) which includes partnerships, personal and public restricted businesses as properly as constrained legal responsibility partnerships can decide for the Current Account.

Further, startups can seamlessly open an account and get the account range right away at the time of incorporation as the Bank has built-in its APIs with the internet site of the Ministry of Corporate Affairs (MCA).
It presents extensive comfort to founders/entrepreneurs as it saves time and efforts because they don’t have to fill small print once more to follow for an account.

As in addition convenience, the Bank sends a reliable to startups at a time of their desire to affirm the unique files for KYC.

“The MSME & self-employed phase in India is the spine of the economy. Within this, we foresee that the startup phase in the us of a is poised for fast boom with beneficial guidelines in the ecosystem and excessive spirit of entrepreneurship.

We consider that ‘iStartup 2.0’ is the most complete programme on hand in the country,” Pankaj Gadgil, Head- Self Employed Segment, ICICI Bank said,
The ‘all-in-one’ and complete iStartup two programme will furnish effortless banking and beyond- banking offerings to begin ups, free up their bandwidth from paper-intensive strategies and hence increase their enterprise boom by way of enhancing standard productiveness and efficiency,” he added

The different key distinguished elements of the ‘iStartup 2.0’ programme are:

It presents many enterprises first points particularly on the spot charge of GST, convenient bulk series & repayments of cash thru a couple of modes, computerized financial institution reconciliation, and inward/outward remittances amongst others.
Availability of Corporate Internet Banking platform and Trade Online.

Automatic financial institution reconciliation function by means of ‘Connected Banking’ with over forty famous accounting / ERP platforms.
Business debit card and FD backed commercial enterprise credit scorecards.
Preferential pricing on ‘Loan Against Securities’ and ‘Overdraft facility in opposition to Fixed Deposit’.
Zero processing price and dedication fees on Fixed Deposits / Overdrafts.Group Health & Personal Accident cowl

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