Bumper aims for European dealership dominance
Bumper, a UK-based fintech specialising in flexible car repair payments, has secured £40m in a series B funding round.
The infusion of capital will be used to expand Bumper’s reach and technology as it aims to become the “dominant payment platform” for car dealers across Europe.
The round comprised £15m in equity and £25m in debt. This latest round takes Bumper’s total investment to date to £53m.
Currently accessible through 5,000 dealers, Bumper has provided flexible payments for more than 250,000 car repairs in the past year.
James Jackson, co-founder and chief executive officer of Bumper, said: “We are proud of the growth journey we have been on over the last 9 years.
“The need for a flexible way to pay for car repairs is vitally important for drivers, and dealers want to ensure they can provide customers every reason to book them in there and then.”
Mike Smeed of InMotion Ventures said: “Flexibility is synonymous with the modern luxury experience and this extends to offering JLR clients the convenience of spreading the costs of repairs.”
Alexei Andreev, managing director of Autotech Ventures, added: “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.”