UK-headquartered Bumper, a fintech enabling flexible payments for car repairs, has completed a $48 million Series B funding round. It was led by Autotech Ventures with investment from Shell Ventures and JLR’s InMotion Ventures (that backed Uncaged Innovations, ev.energy, and ChipFlow), Porsche Ventures, and Revo Capital. The raise takes Bumper’s total investment to date to $64 million.
Previously, Bumper secured £26 million Series A funding last year and $12 million in 2021. The fresh funds will be used to expand Bumper’s reach and technology as it seeks to become the dominant payment platform for car dealers across Europe, with a focus on the UK, Spain, Germany, the Netherlands, and Ireland.
Interest-free vehicle repair payments
Founded in 2013 by James Jackson and Jack Allman, Bumper helps drivers split repair bills into interest-free payments to keep their cars on the road. It ensures car owners can cover the cost of repairs or servicing in an easier, more efficient, and flexible way while enabling dealerships and garages to provide digital payment methods to their customers, helping them win business and drive profitability.
Its full suite of digital and physical payment options, including open banking payments, card payments, and in-dealership card terminals are designed to integrate fully into dealers’ existing infrastructure.
Headquartered in Sheffield, it has offices in London and Ankara. The company’s clients include major automotive brands, including Volvo, Ford, Nissan, VW Group, JLR, and Porsche, among others.
As per the company, it is currently available through 5,000 dealers, which have provided flexible payments for over 250,000 repairs in the last 12 months. The business wants to continue to double that number each year.
James Jackson, co-founder and Chief Executive Officer of Bumper, said: “We want to be the dominant payment platform for car dealers across Europe. We’ll do it by providing a no-brainer solution, one that gives their customers the ultimate flexibility in making the necessary payments to keep their cars on the road. We are proud of the growth journey we have been on over the last 9 years and the endorsement of investment from InMotion Ventures and Porsche is a hugely positive moment for the business.
Alexei Andreev, Managing Director of Autotech Ventures, said: “Bumper is one of the most innovative and exciting businesses in the global automotive space, enabling dealers to ensure their customers can afford repairs immediately, delivering both efficiency and profitability. Bumper solves a genuine customer need, supporting car owners in times of stress so that they can get back on the road as quickly and efficiently as possible. James, Jack and the team have built a winning business model and we continue to invest to support their ambitious growth plans.”
Mike Smeed of InMotion Ventures added: “Flexibility is synonymous with the modern luxury experience and this extends to offering JLR clients the convenience of spreading the costs of repairs. I’d like to congratulate Bumper for raising a further round of investment. In a highly competitive sector the Bumper team stand head and shoulders above the rest, which is why we’re proud to continue our support as they scale their operations across Europe.”
