PumPumPum has raised Rs 18 crore in a Pre-Series A funding round led by early-stage venture capital firm LC Nueva, with participation from Mufin Green and Anupam Finserv. The company, operating under the legal name Dream Road Technologies Private Limited, plans to use the capital to build India's first asset-light leasing technology platform.
The funding will be deployed across multiple areas including platform development, expansion of B2B2C employee leasing partnerships, strengthening relationships with original equipment manufacturers and dealers, and scaling operations in metro markets. The company also plans to expand its technology, sales, and customer success teams.
PumPumPum began as India's first used-car leasing company and has since evolved into a full-stack corporate mobility solutions provider. The platform now offers leasing services across new, used, and electric vehicles, serving corporates, small and medium enterprises, and fleet operators in major cities including Delhi NCR, Bengaluru, Hyderabad, Mumbai, and Chennai.
The company's business model differs from traditional leasing firms through its technology-first, asset-light approach. While conventional leasing companies face growth constraints due to balance sheet limitations, PumPumPum's fintech platform enables banks and non-banking financial companies to deploy capital through technology. The company manages the complete asset lifecycle, including vehicle health monitoring, maintenance, and redeployment infrastructure.
According to company data, PumPumPum has grown 70 percent year-on-year, currently manages over 1,000 vehicles, and has surpassed Rs 100 crore in Assets Under Management. The company has set a target of reaching Rs 1,000 crore AUM within the next three years.
Tarun, Founder and CEO of PumPumPum and an IIT Bombay alumnus, noted that traditional asset-heavy models limit growth potential. He stated that the company's six years of execution have focused on addressing pain points for both corporates and financial partners.
Sohil Chand, Chief Investment Officer at LC Nueva, commented that the firm remains optimistic about the opportunity and highlighted PumPumPum's deep integrations across lenders, insurers, corporates, and end customers.
The leasing market in India remains underpenetrated, with penetration levels below 5 percent compared to over 30 percent in mature global markets. As Indian corporates increasingly transition from capital expenditure to operational expenditure-driven mobility models, the company aims to position itself as a key technology provider in the corporate leasing ecosystem.