UK’s automotive fintech startup Bumper raises additional €2.3M in Series B extension round: Know more

London-based Bumper, a Buy Now Pay Later service provider for car repairs and services, has secured a further £2M (approximately €2.33M) in its Series B extension round.

The additional funding came from Suzuki Motor Corporation through its corporate VC fund, Suzuki Global Ventures, and Tokyo-based Marubeni Ventures.

Suzuki Motor Corporation says, “Through the investment, we aim to enhance the convenience of customers through expanding Bumper’s services.”

James Jackson, CEO and co-founder of Bumper, mentions in a LinkedIn post, “We’re thrilled to be partnering with these industry leaders and bringing our platform to even more Suzuki Europe and Marubeni dealers across all our European markets.”

Earlier this year, the fintech startup raised €46M (£40M) in its Series B round, combining equity and debt financing.

An automotive payment platform

Founded in 2013 by James Jackson and Jack Allman, Bumper provides drivers with a solution to divide repair bills into interest-free instalments, offering flexibility in payment for car repairs.

Headquartered in Sheffield with offices in London and Ankara (Turkey), Bumper serves major automotive brands like Volvo, Ford, Nissan, VW Group, JLR, and Porsche.

Bumper offers both digital and physical payment options, such as open banking and card payments, integrating into dealers’ infrastructure.

In January 2024, the company claimed to have witnessed record growth, with a 100 per cent year-on-year increase in Gross Merchandise Value (GMV) and an 80 per cent rise in customer numbers over the past 12 months.

Bumper operates through 5,000 dealers, which have provided flexible payments for over 250,000 repairs in the last 12 months. It aims to double its impact by facilitating more repairs each year.

Co-founder Jackson says, “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.”

“While we’re proud of our record, I firmly believe we’re just getting into second gear. 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 with every reason to book them in there and then.”

“Bumper provides a win for dealerships and customers alike, and we look forward to expanding our reach to more and more people across Europe in the coming years,” adds Jackson.