Financing company specializing in automotive repairs secures substantial funding from major automobile corporations
Bumper Raises $11 Million in Series B Extension, Expands into Automotive Retail
Bumper, a UK-based buy now, pay later (BNPL) fintech specializing in car repairs, has secured $11 million (£8.1 million) in a Series B extension, led by Autotech Ventures. The funding round also includes major investors such as Jaguar Land Rover’s InMotion Ventures, Porsche Ventures, Suzuki Global Ventures, and Shell Ventures.
Founded in 2013 by James Jackson and Jack Allman, Bumper is based in London and Sheffield. The company has grown significantly since its inception, serving over 1.5 million drivers and becoming operationally profitable. According to projections, Bumper is expected to surpass £1 billion in gross merchandise value during 2025, marking a triple-digit year-on-year growth.
Initially focusing on offering interest-free car repair financing, Bumper is now building a full-stack digital payments and software-as-a-service (SaaS) platform for the automotive retail sector. This expansion strategy includes targeted M&A, as evidenced by the recent acquisitions of AutoBI, a business intelligence platform for car retailers and OEMs, and Cocoon Payments, a white-label solution for streamlining digital payment processes in dealerships.
Bumper's financing is now available at more than 5,000 dealerships and garages, working with major automakers like Audi, Ford, JLR, Nissan, and Volkswagen. The strategic goal is to own more of the payments stack and deliver integrated software solutions to improve operational efficiency, margins, and customer experience in automotive retail.
In a statement, Bumper's CEO, Mr. Jackson, emphasized the importance of Bumper's services, saying, "A sudden repair bill can hit families hard." Bumper helps motorists spread the cost of repairing their cars into interest-free instalments.
With this latest funding round, Bumper is expanding beyond its consumer BNPL roots into a full-stack platform for automotive retail. The funds will support Bumper’s ongoing European expansion into Germany, Ireland, the Netherlands, and Spain. The company aims to continue diversifying its product offerings and scaling its platform and market reach.
[1] Bumper Press Release, https://www.bumper.co.uk/news/bumper-raises-11m-in-series-b-extension-led-by-autotech-ventures
[2] TechCrunch, https://techcrunch.com/2021/04/28/bumper-raises-11m-to-expand-beyond-buy-now-pay-later-into-a-full-stack-platform-for-automotive-retail/
[5] Business Insider, https://www.businessinsider.com/bumper-raises-11m-to-expand-beyond-buy-now-pay-later-into-automotive-retail-2021-4
[1] With the new funds, Bumper aims to expand its services beyond consumer buy now, pay later into a full-stack platform for the automotive industry, potentially disrupting traditional finance and transportation sectors.
[2] The investment is expected to fuel growth in war-chest areas such as industry-specific software, digital payments, and transportation logistics, solidifying Bumper's position as a key player in the automotive retail sector.
