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January 8, 2024

Bumper Drives Forward with $48 Million Boost for Car Repair Payments

UK-based fintech powerhouse, has just fueled up with a staggering $48 million in a Series B funding round

In a drive to reshape the landscape of car repair payments, UK-based fintech Bumper has accelerated its journey with a triumphant $48 million Series B funding round. Leading the charge is Autotech Ventures, accompanied by heavyweight investors such as Shell Ventures, JLR’s InMotion Ventures, Porsche Ventures, and Revo Capital. This injection propels Bumper's total investment to an impressive $64 million, steering the company toward its goal of becoming the go-to payment platform for car dealers across Europe.

Founded in 2013 by James Jackson and Jack Allman, Bumper is not just another fintech—it's the key to unlocking interest-free, flexible payments for vehicle repairs. The ingenious platform empowers drivers to seamlessly split repair costs, ensuring they can keep their cars on the road without breaking the bank. Beyond benefiting car owners, Bumper provides dealerships and garages with a digital payment lifeline, fostering efficiency, customer loyalty, and profitability.

Fresh off the success of a £26 million Series A funding round last year and $12 million in 2021, Bumper is gearing up to expand its footprint and technology. With a strategic focus on the UK, Spain, Germany, the Netherlands, and Ireland, the funds will fuel Bumper's mission to dominate the European car dealership payment landscape. The company's arsenal includes a suite of digital and physical payment options, seamlessly integrating with dealers' existing infrastructure.

Currently available through 5,000 dealers, Bumper has facilitated flexible payments for over 250,000 repairs in the last year alone. Major automotive brands, including Volvo, Ford, Nissan, VW Group, JLR, and Porsche, have embraced Bumper's innovative approach. The company aims to double its impact year after year, providing customers with the ultimate flexibility to keep their vehicles in top condition.

As Bumper revs up its ambition to be the dominant payment platform for car dealers across Europe, the funding round marks a pivotal moment in the company's growth journey. With endorsements from industry giants like InMotion Ventures and Porsche, Bumper's no-brainer solution for flexible repair payments positions it as a trailblazer in the automotive fintech realm. As Bumper accelerates toward its vision, the road ahead looks paved with success, efficiency, and a commitment to transforming the car repair payment landscape.

Josefina Dipaolo
Josefina Dipaolo
Content writer at TechNews180
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