Today Bumper, the fintech enabling flexible payments for car repairs, has announced the completion of a €46 million Series B to accelerate its growth.
Bumper helps drivers split repair bills into interest-free payments. 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.
The company serves over 5,000 dealers, including global brands Volvo, Ford, Nissan, VW, Audi, JLR and Porsche. It has processed over 500,000 car repairs across Europe (that’s 1 every 2 minutes) and provided flexible payments for more than 250k repairs in the last 12 months alone.
The funding round was led by Autotech Ventures and included investment from Shell Ventures, InMotion Ventures, Porsche Ventures, and Revo Capital. The raise takes Bumper’s total investment to date to €61 million.
The new funding will help expand Bumper’s reach and technology across Europe, most notably the UK, Spain, Germany, the Netherlands, and Ireland.
The funding round comes on the back of record growth, with Gross Merchandise Value growing 100 percent YoY in recent years, and customer numbers up 80% in the last 12 months.
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 to 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.”
Lead image: Bumper. Photo: Dan Taylor.