PumPumPum (Dream Road Technologies Private Limited), a used-car leasing pioneer turned full-stack B2B and B2B2C corporate mobility solutions provider, has raised ₹18 crore in a Pre-Series A equity round led by early-stage venture capital firm LC Nueva, with participation from Mufin Green Finance and Anupam Finserv.
The company will utilise the fresh capital to accelerate the development of India’s first asset-light leasing technology platform, aimed at enabling capital-efficient growth in corporate mobility while significantly expanding its electric vehicle (EV) leasing ecosystem.
Funds will be deployed to advance the company’s fintech-driven asset-light platform, expand B2B2C employee EV leasing partnerships, strengthen OEM and dealer networks across new, used and electric vehicles, deepen its footprint in metro markets, and scale its technology, sales and customer success teams.
Founded with the objective of modernising passenger vehicle leasing in India, PumPumPum has evolved from the country’s first used-car leasing company into a comprehensive corporate mobility platform offering structured leasing solutions across ICE and electric vehicles. The company currently serves corporates, SMEs, MSMEs and fleet operators in major urban markets including Delhi NCR, Bengaluru, Hyderabad, Mumbai and Chennai.
PumPumPum’s technology-first, asset-light operating model sets it apart from traditional asset-heavy leasing firms, whose growth is often limited by balance-sheet constraints. Its proprietary fintech platform enables banks and NBFCs to deploy capital seamlessly, while the company manages the full asset lifecycle — from onboarding and vehicle health monitoring to maintenance, redeployment and resale. This capability is especially critical for EV fleets, where battery health, utilisation efficiency and resale value directly impact leasing economics and credit risk.
Over the past six years, the company has built strong operational expertise in employee mobility and business vehicle solutions. It is growing at 70 percent year-on-year, manages over 1,000 vehicles, and has crossed ₹100 crore in Assets Under Management (AUM). With EV adoption accelerating among Indian enterprises due to sustainability mandates and cost efficiencies, the company expects electric vehicles to form an increasingly large share of its leasing portfolio.
Leasing penetration in India remains below 5 percent, compared with more than 30 percent in mature global markets. Capitalising on this gap, PumPumPum has set a target of reaching ₹1,000 crore in AUM within the next three years, driven significantly by EV-led corporate mobility adoption.
“Our six years of execution have focused on solving real pain points for both corporates and financial partners. Traditional asset-heavy models restrict scalability. Our asset-light platform enables efficient capital deployment while delivering a seamless mobility experience, including for electric vehicles. This funding validates our vision of making corporate leasing mainstream in India,” said Tarun, Founder and CEO of PumPumPum and an IIT Bombay alumnus.
Sohil Chand, Chief Investment Officer at LC Nueva, said the company is building a deeply integrated technology ecosystem connecting lenders, insurers, corporates and end customers. “We remain very bullish on the opportunity and are pleased to have strategic investors such as Mufin Green Finance and Anupam Finserv join this round.”
Highlighting the strategic importance of electric mobility, Kapil Garg, Promoter of Mufin Green Finance Limited, said, “PumPumPum’s technology-first approach combined with strong asset management capabilities allows us to build a large EV-focused leasing book without operational complexity, setting a new benchmark for corporate vehicle leasing.”
As Indian companies rapidly shift from CAPEX-heavy vehicle ownership to OPEX-driven mobility models, and integrate EVs into their sustainability roadmaps, PumPumPum is positioning itself as a key technology backbone for the country’s emerging corporate EV leasing ecosystem.
