29 C
Mumbai
Sunday, January 17, 2021

Used vehicle Rental startup PumPumPum raises Rs two Cr funding in debt

Must read

NanoVeda, a technology-driven Ayurveda supplement brand enters the Indian market.

January 2021: NanoVeda, a nutritious supplement brand from Switzerland that combines Ayurveda with established methods and mechanisms of Nanotechnology...

Puravankara Brings Cheers to Homebuyers

Puravankara Limited, one of India's largest developers, known for its innovative theme-based project across India. In its endeavour to offer homebuyers world-class abodes...

Dealmoney Securities Gives Buy Call on Kellton Tech Solutions Ltd.

Dealmoney Securities Pvt. Ltd. has given a buy Call on BSE and NSE Listed Kellton Tech Solutions Ltd. (KELLTONTEC / 519602), with a...

Asian Paints Goes an Extra Mile to Honor Commitments

Asian Paints being a socially responsible company has always acted in the best interest of its stakeholders. Hence, honoring its commitment to the...

Used vehicle Rental startup PumPumPum raises Rs two Cr funding in debt

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.

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest article

NanoVeda, a technology-driven Ayurveda supplement brand enters the Indian market.

January 2021: NanoVeda, a nutritious supplement brand from Switzerland that combines Ayurveda with established methods and mechanisms of Nanotechnology...

Puravankara Brings Cheers to Homebuyers

Puravankara Limited, one of India's largest developers, known for its innovative theme-based project across India. In its endeavour to offer homebuyers world-class abodes...

Dealmoney Securities Gives Buy Call on Kellton Tech Solutions Ltd.

Dealmoney Securities Pvt. Ltd. has given a buy Call on BSE and NSE Listed Kellton Tech Solutions Ltd. (KELLTONTEC / 519602), with a...

Asian Paints Goes an Extra Mile to Honor Commitments

Asian Paints being a socially responsible company has always acted in the best interest of its stakeholders. Hence, honoring its commitment to the...

Passionpreneur Mastermind, The Holistic Mentorship Program by Dev Gadhvi Enterprise

Now, whos a passionpreneur Well, in Dev Gadhvis terms, he is on a mission to rescue and enable people trapped in unpleasant jobs....